EOCO, SEC caution public against doing business with these 17 unlicensed entities

The Securities and Exchange Commission (SEC) is cautioning the public against doing business with some 17 entities providing investment products without a license.

In a joint statement issued by SEC and the Economic and Organized Crime Office (EOCO), it was revealed that these entities were found to be operating through online portals.

This was a result of investigations done by the SEC and EOCO which looked into the activities of some entities primarily operating via online channels.

The statement urged the public to desist from engaging with the following unlicensed investment entities; PatronPay Ghana/PetronPay Ghana, Cedi Network Ghana, Bitcash Investment, Solmax Group, Freedom Synergy, FxKash Investment, Binomo Investment and Hi Pay.

The rest are, Quick Earn, Lite Earn, Snap Finance, Faucet Wealth Investment, Opay Investment, Payme Financial Services, Passive Income, Yvonne Hanson Deals and Alpha Pay.

The public has been admonished to be vigilant in order not to fall prey to such unlicensed companies.

SEC and EOCO in the statement added that Capital Market Operators, Investors, and the General Public should be assured that the SEC, in collaboration with all relevant law enforcement agencies, was committed to ensuring the rigorous enforcement of all the securities laws for operators in the Capital Market to promote orderly growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected.

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