Attorney General Dr. Dominic Ayine has announced that the Economic and Organised Crime Office (EOCO) has successfully recovered $15,191,730.13 linked to a major online investment fraud targeting Ghanaians and British citizens.
The announcement was made during the Government Accountability Series in Accra on Thursday, December 18, 2025.
Speaking at the event, Dr. Ayine said the investigation, which began in 2019, involved a criminal network primarily comprising Chinese and Malaysian nationals.
The gang had established a Ghanaian company to front their fraudulent enterprise, luring victims through online investment schemes and e-commerce platforms.
Victims were required to pay registration fees and purchase investment packages ranging from 770 to 9,240 Ghana cedis, with the promise of high returns.
Dr. Ayine explained the method behind the fraud, saying, “Typical of most Ponzi schemes, victims were encouraged to embark on recruiting other victims through networking and referral systems. These investment packages could also be purchased via virtual currencies.”
The AG highlighted EOCO’s innovative approach to tracking and freezing the stolen assets.
“Using very sophisticated tools such as Chain Analysis Reactor, a software used to analyse cryptocurrency transactions on a blockchain, the EOCO identified the transfer of funds into the cryptocurrency wallet linked to the criminal enterprise… EOCO managed to freeze the tainted wallets and set the freezing order on OKX.”
The recovered funds were realised in fiat currency and deposited into EOCO’s exhibit account, with plans to provide restitution to the victims. Dr. Ayine described the achievement as a significant milestone for Ghana’s law enforcement:
“Through very complex, very groundbreaking investigations conducted by one of Ghana’s foremost law enforcement agencies, we have recovered 15.191 million United States of American dollars…”
The AG also commended EOCO staff, international partners, and the judiciary for their role in the successful recovery.
Source: Starrfm.com.gh
