EOCO, SEC caution public against 17 unlicensed investment entities
This comes after a joint SEC and EOCO investigations into the activities the entities, largely operating via online channels, found them to be “unlicensed.”
The entities are; 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 issued to the Ghana News Agency on Tuesday, stated: “The General Public is hereby advised to be vigilant and to desist from investing in all unlicensed investment products.”
It assured capital market operators, investors, and the public that SEC in collaboration with all relevant law enforcement agencies would ensure the rigorous enforcement of all the securities laws for operators in the market.
This is 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.