As fresh as it is in the minds of Menzgold Subscribers and Ghanaians, Securities and Exchange Commission of Ghana is still sleeping and giving more freedom, and opening more doors for similar dubious Ponzi Scheme Companies to operate gleefully. While the blame keeps hitting the vulnerable, greedy and ignorant Ghanaians, the bottom line is that SEC has no excuse to let these companies operate without abiding by the rules and regulations of this country. Factually, it will be extremely difficult for them to find their way here, if SEC does not push them through. The collaboration between the two separate and different entities is something Ghanaians are finding it difficult to explain. The law has made it so explicit, and has further authorized SEC to investigate and prevent any dubious company from operating within the confines of Ghana, so what is their justification for allowing this Ponzi scheme into this country?
Meanwhile, reliable sources have confidently revealed that the new scheme in the market called Tizaa Ghana Fund has been operating on key social media platforms like Telegram. Through this medium, they have been able, for the past ten days or more, registered some 37,000 Subscribers onto their system. With the guarantee that Subscribers would earn fifty percent profit on their returns within ten days, desperate money makers cannot stop falling in love with it.
It will not be surprising if Politicians and renowned leaders of this country are spearheading this scheme at the expense of the vulnerable population. It is true that the economy is not financially stable and friendly, but this should not force Ghanaians to fall prey to this scam. Just as SEC is not learning, Ghanaians are still walking in darkness, without paying keen attention to the risk involved in engaging in Ponzi schemes. One fundamental question begging an immediate response from SEC is: Why would they allow Tizaa Fund Ghana to win business deals in the country before issuing a public warning communique?
It appears that this has been their norm, and as a formality, they do this to at least communicate something to Ghanaians that they are working, and perhaps care about their financial security. As a fraud examination learner, all I can see is the second coming of Menzgold. I see more trouble looming for people who have already subscribed to this scheme; and to those who are so desperate to invest in it, there is a clear assurance that their monies would be locked up in someone's account, without any trace. One does not need an Angel from Heaven to tell them that this is a total scam; hence, they should run away from it to save their money and time.
Content created and supplied by: Ghana'sthirdeye (via Opera News )
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