SEC, EOCO advised Ghanaians against investing in these 17 companies

The Economic and Organized Crime Office (EOCO) and the Securities and Exchange Commission (SEC) have launched a combined investigation into the actions of some investment businesses that primarily conduct business online.

It was discovered that seventeen businesses were functioning illegally.

As a result, the Commission and the Office have advised the public to exercise caution when dealing with these businesses.

“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 Rigid Enforcement of All 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 SEC stated in a statement to the capital market operators, investors, and general public

Section 3(b) of the Securities Industry Act, Act 929, as amended by Act 1062, and Section 3(d) of the Economic and Organized Crime Act 2010, Act 804, both apply to the most recent action.

They are:

1. PatronPay Ghana/PetronPay Ghana
2. Cedi Network
3. Bitcash Investment
4. Solmax Group
5. Freedom Synergy
6. FxKash Investment
7. Binomo Investment
8. Hi Pay
9. Quick Earn
10. Lite Earn
11. Snap Finance
12. Faucet Wealth Investment
13. Opay Investment
14. Payme Financial Services
15. Passive Income
16. Yvonne Hanson Deals
17. Alpha Pay

Source: Ghanatodayonline.com