SEC Warns Public Against YEPBIT Exchange and BONCHAT Investment Schemes
By Phil
The Securities and Exchange Commission (SEC) has issued a public warning advising Ghanaians to avoid investing through YEPBIT Exchange and BONCHAT, describing the two platforms as suspected fraudulent investment schemes operating without the required regulatory licence.
According to the SEC, the platforms have been soliciting investments from members of the public, including through digital and crypto-asset channels, despite not being licensed to offer investment or trading services in Ghana. The Commission emphasized that neither YEPBIT Exchange nor BONCHAT has received authorization to operate within Ghana's capital market.
To help investors protect themselves, the SEC advised the public to:
Verify the licensing status of any investment or trading platform before investing.
Be cautious of schemes promising unusually high or guaranteed returns.
Avoid investment opportunities where earnings depend primarily on recruiting new participants.
Report suspicious investment platforms to the SEC for investigation.
The Commission reiterated that investor protection remains a key priority and encouraged Ghanaians to rely only on licensed and regulated capital market operators when making investment decisions. It also reminded the public that anyone unsure about an investment opportunity should contact the SEC directly for verification before committing funds.
Source
This article is based on reporting originally published by Graphic Online and the official public notice issued by the Securities and Exchange Commission (SEC) Ghana.