SEC Flags 17 Unlicensed Entities

Hajara FuseiniSeptember 13, 2022

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The Securities and Exchange Commission (SEC) has flaged seventeen (17) unlicensed entities operating in the country.

The entities were identientified after SEC in collaboration with and the Economic and Organised Crime Office (EOCO) embarked on joint investigations into the activities of some entities largely operating via online channels.

The 17 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; Snap Finance; Faucet Wealth Investment; Opay Investment; Payme Financial Services; Passive Income; Yvonne Hanson Deals; and Alpha Pay.

The Commission, therefore, urged the public to desist from investing with these entities.

It also called on the the public to report such entities.

“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.”