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Company News of Friday, June 14, 2019
Source: 3news.com
2019-06-14
EOCO warned young people against investing in online society
The Office of Combating Organized and Economic Crime (EOCO) warns the general public to abandon any commercial transaction with the new online investment platform, Loom.
Loom has been very visible on several social media platforms, including Twitter and WhatsApp, with promotions calling people to commit, invest and leave with huge returns.
The new platform has generated a lot of enthusiasm, as some Ghanaians are already involved in this scam.
In a statement signed by Jacqueline Avotri, public relations manager, EOCO said that he was monitoring the activities of the online platform for some time and warned that she was not believable .
"It's a scam and the general public is asked to refrain from investing and patronizing the loom. Therefore, anyone who deals with Loom does so at their own risk, "warned EOCO.
According to EOCO, Loom leads people to recruit people to invest money, which is similar to a pyramid selling system.
"There is no real product from the program and only benefits people who come early because everyone pays for the channel. It's just a pyramidal scheme disguised as something new. "
The anti-corruption agency also said that Loom was aimed at young people and warned them not to invest in the online society.
EOCO further indicated that it would continue to monitor developments to ensure that citizens are protected from fraudsters and crooks who disguise themselves as investment companies.
On June 11, the Security and Exchange Commission warned the public that the loom was not allowed to operate in the capital market.
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