The Securities and Exchange Commission (SEC) has cautioned the public against doing business with TIZAA GHANA FUND.
According to the communique by SEC, TIZAA is not licensed to carry out any Capital Market activity.
“TIZAA GHANA FUND has not been licensed to carry out any Capital Market activity including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act 929).”
SEC also warned that TIZAA GHANA FUND is not under the regulation of the Securities and Exchange Commission.
The statement asked the public to be cautious when investing with the firm and further consult SEC on their advertised numbers.
Meanwhile, this new Ponzi Scheme is said to be offering a 50% return to its unsuspecting clients.
TIZAA Ghana Fund says they have a guaranteed 50% return on investment or profit for its investors after only 10 days and reports indicate so far, like Menzgold, they have been paying diligently.
The group primarily operates on social media platform Telegram and everyday reports say new members are joining.
They accept a minimum of Ghc100 to as high as Ghc300,000.
Read SEC's full statement to the public below;
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng