The Economic and Organised Crime Office (EOCO) has disclosed that Chy Mall, an online trading and marketing service is a Ponzi scheme.
According to EOCO, Ghanaians should desist from dealing with the Chinese Company, CHY Century Heng Yue Group Limited/Sairui E-commerce Ghana Limited.
A statement from EOCO has revealed that the company is not registered with the Bank of Ghana and the Securities and Exchange Commission and warn the general public to be wary of their activities.
“Chy Mall is neither registered by the Bank of Ghana nor the Securities and Exchange Commission. It operates an E-commerce which comes under the Payment Systems and Service Act 2019(Act 987) and regulated by BoG.
“It also solicits and takes deposits or placements of funds from the general public promising guaranteed returns over a fixed period which is into securities, that is regulated by SEC”.
Read the statement below