The Economic and Organised Crime Office (EOCO) has warned the public against doing business with Chinese firms Chy Century Heng Yue Group Limited and Sairuir-Commerce Ghana Limited. In a statement, EOCO said they are ponzi schemes.
According to EOCO, they have been monitoring the companies since the middle of last year and realised that they registered as online trading and marketing services but solicits and receive funds through investment packages from their customers with a promise of guaranteed returns of various percentages over a fixed short period of time.
It said the companies are operating illegally and are neither registered by the Bank of Ghana or the Securities and Exchange Commission. EOCO noted that the companies allow customers to purchase a product online from the virtual shop through free registration. Customers then purchase an investment package that ranges from GHS770 to GHS9,240.
In addition, customers earn money by operating a trading account by owning an online shop and trading in Chy Mall goods in the shop and engaging in the networking referral system simultaneously or without engaging in the networking referral system.
They also solicit and take deposits or placements of funds from the public promising guaranteed returns over a fixed period which is into securities, that is regulated by SEC.