Ghana’s Securities and Exchange Commission (SEC) warned Wednesday against Yepbit Exchange and Bonchat, months after Philippine regulators shut down a related scheme using the same trading platform.
The notice, dated July 15 and numbered SEC/PN/001/07/2026, describes both as suspected fraudulent investment schemes soliciting money from the public, including through digital and crypto asset platforms. Neither entity holds a license from Ghana’s SEC, which said it exists to protect an efficient, fair and transparent securities market and issued the warning under sections 3 and 208(c) of the Securities Industry Act, 2016.
Yepbit is not new to regulators elsewhere. In the Philippines, authorities issued a cease and desist order in February against Fidelity Capital Investment Group, which ran what it called the FCIG Yepbit Investment Trading Project. That scheme asked for deposits of 500 to 3,000 dollars and promised passive income paid out twice daily, a structure Philippine regulators said depended on recruiting new investors rather than any underlying trading activity, a pattern commonly associated with Ponzi schemes.
Ghana’s SEC notice does not allege any direct link between Bonchat and the Philippine case, and describes the Ghana linked activity only as suspected fraud. It urges the public to confirm an entity’s licensing status directly with the SEC before investing, treat guaranteed or unusually high returns as a warning sign, and avoid schemes that depend on recruiting others to generate earnings.
The commission asked anyone approached by either platform to report it, either by email, by phone through its main line or toll free number, or through its website.
Wednesday’s notice is at least the third public warning Ghana’s SEC has issued against unlicensed investment platforms in the past year, following a July 2025 alert naming two other schemes and a November 2025 notice covering fraudulent offers advertised on television. Regulators have not said whether the platforms named in those earlier notices are connected to Yepbit or Bonchat.
