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Business News of Monday, 18 October 2021

Source: www.ghanaweb.com

Today in History: Go hard on Ponzi scheme operators – Ace Ankomah to regulators

Investment lawyer, Ace Ankomah Investment lawyer, Ace Ankomah

Three years ago, Investment lawyer, Ace Ankomah entreated law enforcement agencies to deal with persons behind Ponzi schemes in the country.

He furthered that these persons, after being arrested should be prosecuted to serve as a deterrent to others.

Mr Ankomah said this at the annual economic dialogue programme hosted by Media General in Accra.

Read the full story originally published on October 18, 2018 by 3news.com.

Investment lawyer, Ace Ankomah wants government to as a matter of urgency, enforce the laws of the country by ensuring that operators of ponzi schemes are punished.

Speaking on the stands of the law on ponzi schemes in Ghana, he questioned why the law has been silent on ponzi schemes.

He wants perpetrators to be prosecuted to deter others.

Ace Ankomah was speaking at the maiden economic dialogue organized by the Media General group, themed “Investment in the Face of Ponzi Schemes: How Do we Clean the Mess?”

Ghana has been hit with numerous fraudulent schemes in the financial sector with the Savannah Brokerage, DKM and God Is Love are recent on the minds of many Ghanaians.

Ace Ankomah is pushing for the laws should be implemented to the letter.

“Why do we have laws, yet no one has been prosecuted or sent to jail?” he asked, “The Registrar General and Attorney Generals Department have too much power to clear the system off these schemes. They have to use these powers to protect poor customers and their hard-earned monies.”

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