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Ghana’s Securities and Exchange Commission (SEC) has fired a major warning shot across the media landscape after uncovering 33 television stations allegedly promoting fraudulent “money-doubling” investment schemes, the latest wave in a worrying trend aimed at exploiting financially vulnerable citizens.
In a strongly worded public notice, the capital market regulator described the schemes as high-risk traps disguised as miracle investments. These operations typically promise unbelievably high returns with little or no risk—an unmistakable hallmark of financial scams that have ruined countless Ghanaian households in the past.
According to the SEC, none of the investment schemes being broadcast have been approved, authorised, or licensed to offer any form of investment service in Ghana.
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“The SEC hereby informs the public that it has not approved, authorised or licensed any of the schemes being advertised on these television channels,”
the statement stressed, urging viewers to remain vigilant and avoid falling for enticing—but dangerous—promises.
The Commission revealed that operators behind these “money-doublers” are violating Section 144(1) of the Securities Industry Act and Section 294(1)(b) of the Companies Act, which strictly prohibit unlicensed public invitations and advertisements for investment products.
Those involved—both the scheme operators and media outlets enabling them—risk facing criminal prosecution for flouting Ghana’s investment regulations.
This warning arrives at a critical moment. Ghana is still reeling from the painful aftermath of collapsed investment firms that wiped out billions in public savings. The resurfacing of such deceptive schemes—this time via mainstream television—threatens to further erode public confidence already hanging by a thread.
The regulator says it is intensifying monitoring efforts across broadcast and digital spaces as part of a broader campaign to protect investor funds and restore trust in the capital market.
Ghanaians are being advised to verify the regulatory status of any investment product or company before parting with their money.
For validation and support, the SEC has opened multiple avenues:
- Toll-free line: 0800 100 065
- Main line: 0302 768 970–2
- Email: info@sec.gov.gh
Reaffirming its commitment to a transparent, secure, and fair investment environment, the SEC assured the public that it would continue collaborating with law enforcement agencies to clamp down on media houses and operators promoting unlicensed financial activities.
With this announcement, the regulator has sent a clear and uncompromising message:
The era of easy-money scams flourishing on Ghanaian airwaves is coming to an end—and those responsible will face the full weight of the law.
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