UBA Ghana warns of Ponzi scheme using its brand named to defraud victims

In a statement, the bank said it had identified a Ponzi scheme operation that claims to be supported by UBA Ghana and uses the official logos, adverts, and pictures of the bank.

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The United Bank of Africa Ghana chapter has issued an alert, warning the public against a Ponzi scheme using its brand name to defraud customers and the general public.

In a statement, the bank said it had identified a Ponzi scheme operation that claims to be supported by UBA Ghana and uses the official logos, adverts, and pictures of the bank as well as its executives to “lure unsuspecting members of the public and dupe them of their hard-earned funds.”

“The attention of UBA Ghana has been drawn to a Ponzi scheme run by a certain Isaac Fosu with telephone numbers 0540913815 and 0597468506. This individual has been asking people to send money to a mobile money number to get back double the amount.

“UBA wishes to state categorically that this is fraud and strongly advises customers and the general public to disregard such messages and ensure that they do not fall victim to their criminal acts,” the statement said.

The bank further said it has reported the activities of the Ponzi scheme to law enforcement agencies, adding that it also engaged the National Media Commission (NMC), to investigate and sanction media stations that give airtime to operators of money-doubling schemes.