<\/p>\n
Maame Yaa Tiwaa Addo-Danquah, EOCO Boss<\/strong><\/p>\n The Economic and Organised Crime Office (EOCO) says it has for some time now been monitoring the activities of two online investment schemes namely Royal Gardens Network<\/strong> and Hubtel Mobile Money Lending<\/strong>.<\/p>\n \u201cChecks have established that Royal Gardens Network<\/strong> and Hubtel Mobile Money Lending<\/strong> have not been registered to operate as online investment companies and that they only exist in the virtual space ostensibly to defraud unsuspecting victims,\u201d a statement issued recently by EOCO signed by Faustina Lartey, <\/strong>Head\/Public Affairs, for the Executive Director, said.<\/p>\n It said the companies are neither registered by the Bank of Ghana (BoG) nor the Securities and Exchange Commission (SEC). They are also not registered with the Registrar General\u2019s Department.<\/p>\n It continued that they entice victims to invest in the companies while promising them high returns.<\/p>\n \u201cThey do so per the use of mobile money and WhatsApp platform channels. Once they have defrauded their victims, they immediately close and delete the WhatsApp group. A different group is subsequently created with new members and the cycle is repeated.<\/p>\n \u201cThe companies have been found to operate a Ponzi\/pyramid scheme and the general public is cautioned to desist from investing and patronizing them.<\/p>\n \u201cThe Economic and Organised Crime Office in line with its mandate to prevent and detect organised crime will continue to monitor online investments with the view to ensuring that citizens are protected from scammers and fraudsters. The general public is hereby duly warned,\u201d EOCO said.<\/p>\n BY Linda Tenyah-Ayettey<\/strong><\/p>\n \u00a0<\/strong><\/p>\n \u00a0<\/strong><\/p>\n \n\t<\/div>\n","protected":false},"excerpt":{"rendered":" Maame Yaa Tiwaa Addo-Danquah, EOCO Boss The Economic and Organised Crime Office (EOCO) says it has for some time now been monitoring the activities of two online investment schemes namely Royal Gardens Network and Hubtel Mobile Money Lending. \u201cChecks have established that Royal Gardens Network and Hubtel Mobile Money Lending have not been registered to […]<\/p>\n","protected":false},"author":1,"featured_media":740511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[2309,3477,5464,5010,5465,2427,1111,5466],"class_list":["post-1006258","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-eoco","tag-exposes","tag-gardens","tag-hubtel","tag-lending","tag-momo","tag-network","tag-royal"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1006258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1006258"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1006258\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1006258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1006258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1006258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}