The Bank of Ghana (BOG) is warning the public to desist from doing business with MMM Ghana, a company which is opearting a ponzi scheme across the country through a virtual office.

According to the Central Bank, the company whose activities are illegal claims to have over 10,000 clients, moves from place to place and mobilises deposits from the general public.

“The institution’s operations are contrary to section 6 (1) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930) and also threatens the safety and soundness of the financial system,” a statement issued by BOG’s Communications Department said.

It added that “…anyone who does business with MMM Ghana does so at his or her own risk.”