in

Don’t invest in Chy Century Heng Yue; it’s a Ponzi scheme – EOCO to Ghanaians

GHANA

The Economic and Organised Crime Office (EOCO) has warned the public against doing business with a Chinese Company called Chy Century Heng Yue Group Limited and Sairuir-Commerce Ghana Limited.

In a statement, EOCO said it had been monitoring the company since the middle of 2020 and has concluded it is a Ponzi scheme.

“The company operates a Ponzi/Pyramid scheme and the general public is cautioned to desist from investing and patronizing Chy Mall. Therefore, anyone who transacts business with them does so at “their own risk.”

EOCO also noted that the company is operating illegally and is neither registered by the Bank of Ghana or the Securities and Exchange Commission (SEC).

It operates an E-Commence which comes under the Payment Systems and Service Act 2019 (Act 987) and regulated by BoG.

The SEC and BoG have already issued statements warning that the company “has not been licensed to carry out any Capital Market activity including investing or trading for returns.”

PRESS RELEASE – CHY MALL

Written by Kweku Eshun

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Antoine Essoumato to officiate Kotoko’s match against ES Setif

Check Out How Ponzi Scheme “Chy Century” operates