The Economic and Organised Crime Office (EOCO) says it has arrested officials of digital payment marketing and promotions firm, Payboy.
A statement from EOCO on Friday said Payboy Company Limited does not have the license from either the Bank of Ghana or the Securities and Exchange Commission to perform the services it purports to offer.
“The General Public is advised to be circumspect when dealing with companies or individuals if it involves financial commitments,” EOCO cautioned.
“Investigations are ongoing,” it added.
The arrest goes to further fuel the infamous Menzgold saga. The gold dealership firm said on May 19 that it had appointed Payboy to facilitate payments with their clients.
Menzgold’s over 10,000 customers invested in gold collectibles with a subsidiary of the firm in a scheme that promised up to 10% monthly returns.
The SEC ordered a shut-down of their operations after investigations revealed they were taking cash deposits illegally.
Since September 2018, clients’ monies have been locked-up.
Though the SEC says the total sum locked up is unknown, the state began prosecuting CEO of Menzgold, Nana Appiah Mensah for defrauding clients to the tune of GH¢1.68 billion.
Latest Stories
-
Stonebwoy, other African acts’ music restored after TikTok, Universal Music resolve dispute
15 mins -
Dumsor hasn’t ended – IES debunks Akufo-Addo’s claim as citizens complain of more outages
22 mins -
Bawumia praises church’s invaluable role in Ghana’s development
27 mins -
‘Man stuffing ballot box, not our staff and incident not related to Ejisu by-election’ – EC
37 mins -
Agogo Presby Hospital holds annual performance review meeting
42 mins -
Fifth body found after Baltimore bridge collapse
52 mins -
Atlantic Lithium to list on the Ghana Stock Exchange
57 mins -
EOCO could have done more investigations into Cecilia Dapaah’s case – GII
1 hour -
MTN FA Cup: Dreams FC to switch focus to title defence after CAF Confederation Cup elimination
1 hour -
New photo marks Princess Charlotte ninth birthday
2 hours -
Dafeamekpor files appeal against dismissal of request to compel Akufo-Addo to accept anti-LGBTQ bill
2 hours -
Group submits RTI application seeking information on BVRs for limited registration exercise
2 hours -
They accepted my lunch offer – Kwadaso MP on money given to EC officials
2 hours -
KAIPTC launches 5-year strategic plan
2 hours -
Akwaboah Jnr stuns fans with wedding announcement
2 hours