News
Beware! SEC, EOCO Warns Against Investing In These 17 Companies
The Securities and Exchange Commission (SEC) and the Economic and Organised Crime Office (EOCO) have embarked on a joint investigation into activities of some investment firms, operating largely online.
Seventeen firms were found to be operating without license.
Accordingly, the Commission and the Office have warned the public to be wary of any engagement with these firms.
They are:
- PatronPay Ghana/PetronPay Ghana
- Cedi Network
- Bitcash Investment
- Solmax Group
- Freedom Synergy
- FxKash Investment
- Binomo Investment
- Hi Pay
- Quick Earn
- Lite Earn
- Snap Finance
- Faucet Wealth Investment
- Opay Investment
- Payme Financial Services
- Passive Income
- Yvonne Hanson Deals
- Alpha Pay
“The general public is hereby advised to be vigilant and to desist from investing in all unlicensed investment products,” the joint statement issued on Tuesday, September 13 said.
“Capital Market Operators, investors and the general public should be assured that the SEC in collaboration with all relevant law enforcement agencies is committed to ensuring the rigorous enforcement of all the securities laws for operators in the capital market to promote an orderly growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected.”
The latest action is in accordance with Section 3(b) of the Securities Industry Act, Act 929, as amended by Act 1062 and Section 3(d) of the Economic and Organised Crime Act 2010, Act 804.