BoG and SEC Warn Against 'Daily Wealth Guide' Crypto Scam Using Doctored President Mahama Video

The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have issued an urgent joint warning against a fraudulent cryptocurrency investment scheme operating under the name "Daily Wealth Guide." The regulators alerted the public that the platform is entirely unlicensed and is using deceptive promotional materials to lure unsuspecting investors into an illegal deposit-taking scheme. A particularly concerning aspect of this fraud is the circulation of a doctored video on social media falsely depicting President John Dramani Mahama endorsing the platform to gain undeserved credibility.

According to the regulators, the "Daily Wealth Guide" scheme employs promises of extraordinarily high returns to attract victims. The BoG and SEC have clarified that neither the platform nor its operators have been granted the requisite licenses to conduct financial services or solicit deposits within Ghana. The authorities emphasized that the use of manipulated media featuring the President is a malicious attempt to deceive the public, and they have confirmed that no such endorsement exists. The scheme's operations are described as risky and illegal under current financial regulations.

The regulators emphasized that engaging in deposit-taking activities without a valid license is a criminal offense under Ghanaian law, carrying significant penalties for perpetrators. Beyond the warning to potential investors, the BoG and SEC have called upon media organizations to exercise greater diligence. They urged broadcasters and digital publishers to thoroughly vet the licensing status of investment firms before accepting their advertisements to prevent the further spread of fraudulent schemes that target vulnerable citizens.

This crackdown aligns with the government's broader initiative to strengthen the regulatory framework for virtual assets, supported by the recently established Virtual Assets Coordinating Committee. Citizens are strongly advised to verify the licensing status of any financial institution or investment platform with the BoG or SEC before committing funds. The regulators reiterated that high-return promises are often a hallmark of scams and urged the public to remain vigilant and report any suspicious investment activities to the appropriate authorities.