In a major crackdown on fraudulent activities, the Ghana Police Service has arrested 487 individuals suspected of participating in the QNET Ponzi scheme. The arrests took place on Monday, September 2, 2024, following an intelligence-led operation in Kumasi, the Ashanti Regional capital.
The suspects, comprising 257 females and 230 males, were apprehended at a property in Adwuman, a suburb near Kenyasi, Kumasi. Preliminary investigations suggest that the group was involved in a large-scale fraudulent scheme, deceiving individuals nationwide with false promises of lucrative investment returns.
During the raid, authorities seized significant evidence, including registration documents and materials emblazoned with the QNET logo, further implicating the suspects in the Ponzi scheme. Among the arrested, twelve have been identified as key executives believed to be leading the operation. The identified executives are 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.
The suspects are currently in police custody and are assisting with ongoing investigations. The police have intensified efforts to uncover the full extent of the scheme and identify other potential accomplices involved.
Following the arrests, the Ghana Police Service has issued a public advisory, urging citizens to exercise caution and avoid falling victim to similar fraudulent schemes. The public is encouraged to report any suspicious activities to law enforcement agencies to prevent the spread of such deceitful operations.
This operation marks a significant step in the fight against Ponzi schemes in Ghana, highlighting the authorities’ commitment to protecting citizens from financial exploitation and holding perpetrators accountable for their actions.
