The Economic and Organised Crime Office (EOCO) has warned the general public from doing business with Chinese Company, Chy Century Heng Yue Group Limited and Sairuir-Commerce Ghana Limited.
It said the company is a ponzi scheme after monitoring the company since the middle of last year.
“The company which is registered as online trading and marketing services also solicits and takes/receives funds through investment packages from its customers with a promise of guaranteed returns/margins of various percentages over a fixed short period of time,” it explained.
“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 said the company is operating illegally and is neither registered by the Bank of Ghana (BoG) 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.”
Here is the full statement from EOCO:
Source: Ghana Waves