Beware! SEC, EOCO warns against investing in these 17 companies


The Securities and Exchange Commission (SEC) and the Economic and Organised Crime Office (EOCO) have embarked on a joint investigation into activities of some investment firms, operating largely online.

Seventeen firms were found to be operating without license.

Accordingly, the Commission and the Office have warned the public to be wary of any engagement with these firms.

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

“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 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.”

The latest action is in accordance with Section 3(b) of the Securities Industry Act, Act 929, as amended by Act 1062 and Section 3(d) of the Economic and Organised Crime Act 2010, Act 804.

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One thought on “Beware! SEC, EOCO warns against investing in these 17 companies

  1. so why are these companies not being clamped down. It’s like telling me not to use the kanda highway because armed robbers operate in that area. We are jokers in this country seriously. MenzGold thought us nothing at all.

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