SEC, EOCO Blacklist 17 investment firms | Bank and finance

Reverend Daniel Ogbarmi Tetteh (SEC Boss) and Maame Yaa Tiwaa Addo Danquah (EOCO Boss)

The Securities and Exchange Commission (SEC) and the Economic and Organized Crime Office (EOCO) have warned the public against doing business with some 17 investment agencies.

According to the two public institutions, the 17 investment entities, which largely operate through online channels, are “unlicensed”.

This was revealed in a joint SEC and EOCO investigation into the entities’ activities in the country.

“Unlicensed” entities included; PatronPay Ghana/PetronPay Ghana, Cedi Network Ghana, Bitcash Investment, Solmax Group, Freedom Synergy, FxKash Investment, Binomo Investment, Hi Pay, Quick Earn and Lite Earn.

The others are; Snap Finance, Faucet Wealth Investment and Opay Investment, Payme Financial Services, Passive Income, Yvonne Hanson Deals and Alpha Pay.

A joint statement released to the media said “the general public is hereby urged to be vigilant and to refrain from investing in any unlicensed investment products.”

He also assured capital market operators, investors and the public that the SEC, together with all law enforcement agencies, would ensure the rigorous enforcement of all securities laws for market operators.

Source: Jamila Akweley Okertchiri/Daily Guide

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