In a bid to clampdown on fraudulent investment activities in the country, an intelligence-led operation by the Ghana Police Service has led to the arrest of 487 individuals engaged in a Ponzi scheme
The operation took place in Kenyasi-Adwumam, a suburb of Kumasi.
Police say the 487 individuals arrested are linked to the notorious QNET Ponzi Scheme in Kumasi.
The suspects comprise 257 females and 230 males who are believed to be luring unsuspecting persons from various parts of the country with promises of lucrative returns on their investments.
However, these promises turn out to be part of a well-orchestrated scam designed to defraud people of their hard-earned money.
“The Ghana Police Service through an intelligence-led operation yesterday, 2nd September 2024, arrested four hundred and eighty-seven (487) suspects who are members of the Ponzi scheme known as QNET in Kumasi in the Ashanti Region,” portions of the police statement said.
Among the 487 suspects, twelve have been identified as key executives of the scheme. These individuals, now in police custody, include Gyereh Evelyn, Francis Kpesah, Samuel Musah, Simon Yakubu, Thomas Kotual, Kwasi Nyabi, Benjamin Nsigma, Elijah Musah, Moses Katu, John Balabon Tagnakibi, James Nogma, and Fidelis Bang-ib. They are currently assisting law enforcement with further investigations.
During the operation, police retrieved several incriminating items, including registration documents and materials emblazoned with the QNET logo. These items are believed to have been used to entice and deceive victims.
The Ghana Police Service has issued a strong warning to the public, urging them to be vigilant and report any suspicious activities related to such schemes. They emphasized the importance of safeguarding oneself against fraudsters who prey on vulnerable individuals with promises of quick financial gains.
“We would like to take this opportunity to urge the public to be wary of such schemes and report such activities to the Police,” the police advised.
