Anti-graft institution, the Economic and Organised Crime Office (EOCO) says Chy Mall or Sairui Mall operated by Chinese firms Chy Century Heng Yue Group Limited and Sairui e-commerce Ghana Limited, is a ponzi scheme.
EOCO is therefore advising Ghanaians to desist from patronizing the services of the online trading platform, stating that persons who transact business with the said companies does so at their own risk.
According to investigations carried out by EOCO, Chy Mall in its operations allows customers to purchase a product online from a virtual shop through a free registration. Customers then purchase an investment package ranging from Ghs 770 to Ghs 9,240.
In addition, customers earn money by operating a trading account by owning an online shop and trading in Chy Mall goods in the shop and engaging in the networking referral system simultaneously or without engaging in the networking referral system.
EOCO’s caution to Ghanaians against transacting business with the two Chinese firms follows an earlier caution by the Securities and Exchange Commission (SEC) and the Ghana Investment Promotion Centre (GIPC).
Read below details of EOCO’s press statement cautioning Ghanaians: