In the event that Securities and Exchange Commission payment thinks it has done the work of public training about dubious investments good enough, then it may have to revise the note as a new Ponzi Scheme, Tizaa Ghana Finance, has recorded over thirty seven, 000 new subscribers in only a week of promising fifty percent returns. Tizaa Ghana Account says they have a guarantee fifty percent return on investment or profit for the investors after only week and reports indicate up to now, like Menzgold, they have been spending diligently. The group which mainly operates on social media system Telegram and everyday reviews say new members are usually joining. They accept minimal Ghc100 to as high as Ghc300, 000. This Ponzi system is modeled after Menzgold Ghana Limited which was the fraudulent gold dealership plus investment firm that promised clients an average of 7-10 percent month-to-month returns on investments. It had been subsequently shut down by the Authorities of Ghana. It was started by Nana Appiah Mensah who is currently facing costs of defrauding by fake pretence in court. The particular prosecution had accused Nana Mensah, his wife, Microsoft Rose Tetteh, and his cousin, Ms Benedicta Mensah, associated with using Menzgold as a device to defraud more than sixteen, 000 people of GH¢1. 68 billion. His spouse and his sister are, nevertheless , at large. The facts, as provided by ASP Asare, are usually that in October 2018, the police received a issue from about 16, 500 people that Menzgold had confident them to invest GH¢1. 68 billion in a gold buy scheme that yielded ten per cent monthly interest. Based on him, the complainants mentioned their money was secured up and that they could not discover Nana Mensah and the additional principal officers of the corporation. The prosecutor said inspections revealed that Menzgold plus Brew Marketing Consult had been incorporated as limited responsibility companies in 2013 plus 2016, respectively. Menzgold, he or she said, obtained a license from the Minerals Commission within August 2016 to purchase plus export gold from minor miners, and that in order to effectively engage in the business, Nana Mensah founded Brew Marketing Seek advice from to be a gold buying broker. ASP Asare said even though Menzgold was licensed to buy gold, it was not certified by the Minerals Commission in order to trade in gold. Despite the lack of such a licence, he or she said, Menzgold went general public after its incorporation plus invited the public to down payment money for a fixed time period with interest, on the pretext of gold purchasing. The particular prosecutor said further research revealed that the three falsely accused persons were the company directors and principal officers associated with Menzgold and Brew Advertising Consult. NAM 1 was launched from police custody upon August 17, 2019, right after meeting his revised bail conditions. Later, the courtroom varied the bail situations to allow for five sureties to ensure his bail without displaying evidence of having properties really worth the GH¢1 billion bail sum. Source: MyNewsGh. com/2022Send your news stories in order to [email protected] plus via WhatsApp on +233 202452509