EOCO Unveils Two “Defrauding” Investment Schemes

The Economic and Organised Crime Office (EOCO) has identified two virtual investment schemes defrauding unsuspecting victims of huge sums of money.

According to the EOCO, the Royal Gardens Network and the Hubtel Mobile Money Lending schemes are not registered with the Bank of Ghana, neither are they with the Registrar General’s Department.

The EOCO says they exist “ostensibly to defraud unsuspecting victims”.

The Royal Gardens Network and the Hubtel Mobile Money Lending schemes entice victims to invest in the companies with assurances of reaping huge returns using the WhatsApp platform.

“They do so per the use of mobile money and WhatsApp platform. Once they have defrauded their victim, they immediately delete the WhatsApp group. A different group is subsequently created and the cycle is repeated”, the EOCO recounted.

It further cautioned the general public against the two, which have been found to operate a Ponzi scheme.

Source: opemsuo.com/Hajara Fuseini