SEC warns public against unlicensed Mekanism Marketing investment scheme

The Securities and Exchange Commission (SEC) has issued a strong public warning against an unlicensed investment scheme being promoted online by Mekanism Marketing Ltd, also known as “Mekanism.”

In a notice dated February 16, the Commission stated unequivocally that Mekanism Marketing Ltd is neither licensed, authorised, nor approved to operate within Ghana’s capital market. As such, any investment activity undertaken by the entity is illegal under Ghanaian law.

According to the SEC, the scheme is soliciting funds from members of the public through social media advertisements and online platforms.

Prospective investors are reportedly enticed with promises of fixed daily returns tied to vague tasks labelled “Job 1” through “Job 10.”

The Commission described the advertised returns as unrealistic and unsustainable, noting that the structure of the operation bears hallmarks of a fraudulent scheme intended to lure unsuspecting individuals.

The SEC further emphasised that operating an investment scheme without a valid licence contravenes the Securities Industry Act, 2016 (Act 929) and the Companies Act, 2019 (Act 992).

It warned that persons behind such unauthorised operations are liable to both administrative and criminal sanctions.

The Commission further disclosed that it is collaborating with law enforcement agencies to take appropriate action against those responsible for the scheme.

The SEC has urged the public to exercise due diligence before committing funds to any investment opportunity. Individuals are advised to verify the licensing status of investment entities through the Commission’s official channels, including its toll-free line (0800 100065), email (info@sec.gov.gh), or its website (www.sec.gov.gh).