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.
People whose monies are locked up with failed fund management companies are being urged to file complaints with the Economic and Organized Crime Office (EOCO) and the Police Criminal Investigation Department (CID). The Director General of the Securities and Exchanges Commission (SEC), the Reverend Daniel Ogbarmey-Tetteh, said those fund management companies, must not get away with any acts of dishonesty and misappropriation of investors money.
Many woke up with a Short Messaging System (SMS) informing them to attend an urgent meeting at Zenith Hotel, Takoradi this morning. These were mainly customers of defunct Gold Coast Fund Management Limited. Hundreds running into a thousand left their homes early in the morning with copies of their claim documents and identification cards hoping to have them processed for repayment of their deposits. Per the message, which was forwarded by the leadership of the Aggrieved Customers of Gold Coast Fund Management
The Securities and Exchange Commission (SEC) has cautioned the public against the operations of CHY CENTURY HENG YUE GROUP LIMITED formerly known as SAIRUI E-COMMERCE GHANA LIMITED. This notice of caution was communicated to the public in a statement published on the official website of the Securities and Exchange Commission on Friday, 8th January, 2020. According to SEC, The move which was captioned "Public Interest Warning To The Public On Electronic Commerce and Trading Scheme" is pursuant to Sections
The Securities and Exchange Commission has laid the gauntlet once more that Collective Investment Schemes (CIS) are not part of the bailout process being dolled out by authorities.The Director General of SEC, Rev.Alfred Ogbamey stated this in the meet the press session organised today 30th April 2021 on their Facebook platform.
The reality on the ground is that financial and investment scammers are on the rise currently around the globe, and this can be evidently confirmed by the Securities and Exchange Commission (SEC). This is ringing a strong bell in the ears of all of us; whether you are an investor or not, we are all at risk. What we should understand is that Cybersecurity experts & engineers, top-notch IT experts with high level of integrity are working tirelessly around the clock to crack down those fraudsters. But however
A few months ago, I made it public that after 26 years of unblemished record in the fund management business, BlackShield/GCFM’s main objective was to retrieve investments the company had made with government and private entities and use it to meet the redemption requests of its customers. Last week, the Securities and Exchange Commission (SEC) in Ghana announced a partial bailout plan for clients of affected Fund Management Companies, including BlackShield/GCFM. According to the SEC’s statement, all affected
Gold Coast Security Customers Are To Follow These Steps/Procedures To Retrieve Their Locked Up Funds
During the banking sector cleanup, most financial companies were affected and these led to the locked up of most of the funds/monies of many customers.The government have paid some of the customers but majority of them still remain unpaid. In an interview with TV3 on Saturday midday news the PRO of Coalition of Gold Coast Security Customers, he said that the proposed payment plan was very cumbersome and laborious. He explained the procedure as below: 1.The customer will receive a text message from the receivers
Hell, nearly broke loose among the customers of the popular CHY Mall when the SEC and EOCO were on their nerves in relation to their Genuity in the operations they were undertaking.Meetings and Press Conferences were held either to disregard or credit the organization.
Pictures are for illustration purposes only.The lessons from the financial sector collapse occasioned by failure of fellow countrymen who were trusted to keep and grow investors funds will not be lost on us.They have failed us in many ways by mostly misappropriation of the funds pooled from myriad of the investing public.
Ghanaians have so far been unable to tell if the numbers bandied about by the ruling government on the payments made to aggrieved customers is actually the case. All clients of collapsed banks have been paid according to the finance ministry and Bank of Ghana. It seems this must be the only truly completed payments made by the government. There are antics by the government and the liquidator when it comes to the savings and loans, microcredit and microfinance sector. The government mentioned that 98% have been
Note: This picture is just for illustration. Thank you. According to the unnamed man who clain to be 32 years, he completed University of Cape Coast with first class but could not secure a job after graduation for several years. He started his own business and became successful, now married with children. According to him, he invested his money over GH¢100,000.00 with Gold Coast Management Company. The company is now closed and his locked up funds hasn't been repaid. He sold some of his assets to pay his creditors.
Despite moving to court to seek restitution, the consumers claim they are unable to recover their money at Menzgold. According to the spokesperson for aggrieved customers, Fred Forson, Parliament must scrutinize the bank accounts of the CEO, Nana Appiah Mensah, commonly known as the NAM1.
The security and exchange commission (SEC) has issued a statement to Ghanaians about CHY MALL, an online investment company popularly known as "new menzgold." CHY MALL is an online investment company with a number of Ghanaians as their customers. To avoid another menzgold drama, SEC have issued a statement that CHY MALL is not a licensed investment company recognized in Ghana. They are therefore advising all Ghanaians to desist from investing in unlicensed investment companies and products. SEC issued a similar
Kindly note that this article is been compiled by Linguistic Anticlockwise. Follow me for more stories. Nana Appiah Mensah popularly known and referred to as Nam 1 in the business fraternity born on the 16th May 1984 in Accra Ghana is a Ghanaian businessman who rose to riches from menzgold a gold dealership and investment firm that reached an agreement with its customers a 10 percent monthly returns on their investment. Nam 1 had his secondary school at Adisadel College and he subsequently proceeded to the University
In all the struggle, the pain, the deaths and hopes of getting back invested funds from the financial sector which was cruelly mismanaged and subsequently cruelly collapsed are the mutual funds and equity funds investors who have been the worst hit. They have no hope as to when their funds will be made available to them. The Securities and Exchange Commission did not allow them to even fill any forms for validation. They have been told they are not part of the bailout process and there is really no end in sight
The Securities and Exchange Commission (SEC) has advised people in general against the tasks of CHY CENTURY HENG YUE GROUP LIMITED once known as SAIRUI E-COMMERCE GHANA LIMITED. This notification of alert was imparted to people in general in an assertion distributed on the authority site of the Securities and Exchange Commission. As per SEC, The move which was captioned Public Interest Warning To The Public On Electronic Commerce and Trading Scheme is according to Sections 3 and 208(c) of the Securities Industry
ECONOMIC AND ORGANIZED CRIME OFFICE (EOCO) WARNS CUSTOMERS OF CHY MALL AGAINST CARRYING OUT ANY CAPITAL MARKET ACTIVITY INCLUDING INVESTING OR TRADING FOR RETURNS. CHY MALL customers have been warned per a press release by the Economic and Organized Crime Office (EOCO) which has since the middle of last year been monitoring the activities of a Chinese Company called CHY CENTURY HENG YUE GROUP LIMITED/SAIRUI E-COMMENCE GHANA LIMITED. The company which is registered as an online trading and marketing services
The Ryuk ransomware has struck again. The damn malware that has already raged recently at Sopra Steria or even the American hospital giant Universal Health Services continues to wreak havoc in public and private organizations. This time the target was Steelcase, a global office supplies giant with $ 3.7 billion in sales and 13,000 employees. If officially the group has not confirmed that it was indeed this malware, a cybersecurity source familiar with the matter indicates that this is indeed the case .
CHY Century Heng Yue Group Limited which is registered as an online trading and marketing services became a public issue whe in the early parts of January, 2021 the Securities and Exchange Commission issued the general public cautioning them of the illegal activities of the company which is popularly known as CHY-Mall. Many Ghanaians subscribed to this online trading platform which is a Chinese company in order to make some interests in their monies being used to trade. In their statement the SEC stressed that