Bank of Ghana and SEC Warn Public Against Daily Wealth Guide Crypto Scam Using Mahama's

• The Bank of Ghana and the Securities and Exchange Commission jointly issued a warning against a crypto platform called Daily Wealth Guide
• The regulators described the platform as a scam that uses promises of high returns to draw in unsuspecting members of the public
• A doctored video falsely showing President John Dramani Mahama endorsing the platform has been circulating online

The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have jointly warned Ghanaians to stay away from a crypto investment scheme operating under the name "Daily Wealth Guide", which they have described as fraudulent.

In a joint statement, the two regulatory bodies cautioned the public against depositing money with the operators of the platform, saying those behind it are engaged in illegal deposit-taking activities.

The BoG and SEC said individuals running the platform have been enticing members of the public with promises of high financial returns, a common tactic used by fraudulent investment schemes.

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The regulators made clear that the platform has no authorisation to take deposits from the public under Ghanaian law.

Neither regulator provided specific figures on how many people may have already deposited funds or the total amount at risk, but the urgency of the joint statement signals the scheme has attracted sufficient attention to warrant an official public alert.

Fake Mahama Video Used to Deceive Investors

A key element of the scheme involves a manipulated video that has been circulating widely, in which President John Dramani Mahama appears to endorse the Daily Wealth Guide platform.

The BoG and SEC confirmed the video is fabricated and bears no relation to any official government position or statement made by the President.

The regulators stressed that the doctored footage should not be interpreted as evidence of any government endorsement or regulatory approval of the scheme.

The use of a sitting president's image to lend credibility to a fraudulent investment platform raises serious concerns about the lengths to which the operators are willing to go to deceive the public.

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Ghanaians were urged to conduct due diligence before placing money with any investment platform and to verify the regulatory status of any scheme through the BoG or SEC before committing funds.

Source: YEN.com.gh