SEC, EOCO warn Ghanaians against 17 unlicensed entities

The Securities and Exchange Commission(SEC) in collaboration with the Economic and Organised Crime Office (EOCO) has fingered 17 entities that are operating without license.

This was after SEC and EOCO embarked on joint investigations into the activities of some entities largely operating via online channels.

According to SEC and EOCO, “This was in accordance with relevant provisions of Act 929 as amended and Act 804, the SEC and EOCO wish to inform the General Public that, the underlisted entities are not licensed by the Securities and Exchange Commission,” SEC stated.

The seven entities are PatronPay Ghana/PetronPay Ghana, Cedi Network Ghana, Bitcash Investment, Solmax Group, Freedom Synergy, FxKash investment, Binomo Investment, Hi Pay, Quick Earn, Lite Earn and Snap Finance.

Others are Faucet Wealth Investment, Opay Investment, Payme Financial Services, Passive Income, Yvonne Hanson Deals and Alpha Pay.

SEC and EOCO advised the General Public to be vigilant and to desist from investing in all unlicensed investment products.

“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,” SEC and EOCO.

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Ghana|| Porcia Oforiwaa Ofori


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