Accra, Feb. 18 – The Securities and Exchange Commission Ghana (SEC) has cautioned the public against participating in investment activities promoted by Mekanism Marketing Limited, an online entity operating without regulatory approval.
In a public notice, the Commission stated that Mekanism Marketing Limited is neither licensed, authorised, nor approved to operate in Ghana’s capital market. Any investment activity by the company constitutes an illegal and unauthorised operation. The SEC advised the public to exercise extreme caution and avoid committing funds to its products or services.
Investigations revealed that Mekanism Marketing Limited used social media and online platforms to solicit deposits from the public, promising fixed daily returns based on the amount invested. Participants were reportedly required to perform vague tasks labelled “Job 1” through “Job 10” to earn daily, monthly, or annual income.
The SEC described the promised returns as unrealistic and unsustainable, noting that the scheme exhibits characteristics of a fraudulent operation intended to exploit unsuspecting investors. Such activities pose significant financial risks and undermine confidence in the capital market.
Under Section 109 of the Securities Industry Act, 2016 (Act 929), no person may operate as a market operator, broker, dealer, investment adviser, or fund manager without a valid licence issued by the Commission. Violators may face administrative and criminal sanctions under Section 206 of the Act.
The notice also referenced Section 294(1)(b) of the Companies Act, 2019 (Act 992), which prohibits entities from issuing public invitations for investment in securities without fulfilling statutory requirements. Individuals or groups involved in such unauthorised activities may face legal penalties.
The SEC said it is collaborating with law enforcement agencies to identify and take appropriate action against the operators of the scheme. It urged the public to verify the licensing status of any individual or organisation offering investment services before committing funds. Verification can be made via the Commission’s toll-free line, main office telephone numbers, official email, or website.
The notice reaffirmed the SEC’s commitment to protecting investors and maintaining the stability and integrity of Ghana’s capital market.
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