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Ponzi Schemes in Ghana: The Menzgold Saga

Ponzi Schemes in Ghana: The Menzgold Saga Ponzi schemes have ravaged financial markets and have caused considerable financial loss to many individuals. The continuous emergence of Ponzi schemes is as a result of a lacuna in financial regulation. The collapse of Menzgold, a company in Ghana, is another episode in the ebb and flow of Ponzi schemes in Ghana. This article therefore exploits this recent development to explain the emergence of Ponzi schemes in Ghana and situates this trend in the context of the lapses in financial regulation. In doing this, both the doctrinal approach and the comparative approach are applied in this article to contribute to the little Ghanaian literature there is on Ponzi schemes and regulation in Ghana. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png African Journal of International and Comparative Law Edinburgh University Press

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Publisher
Edinburgh University Press
Copyright
Copyright © Edinburgh University Press
ISSN
0954-8890
eISSN
1755-1609
DOI
10.3366/ajicl.2021.0377
Publisher site
See Article on Publisher Site

Abstract

Ponzi schemes have ravaged financial markets and have caused considerable financial loss to many individuals. The continuous emergence of Ponzi schemes is as a result of a lacuna in financial regulation. The collapse of Menzgold, a company in Ghana, is another episode in the ebb and flow of Ponzi schemes in Ghana. This article therefore exploits this recent development to explain the emergence of Ponzi schemes in Ghana and situates this trend in the context of the lapses in financial regulation. In doing this, both the doctrinal approach and the comparative approach are applied in this article to contribute to the little Ghanaian literature there is on Ponzi schemes and regulation in Ghana.

Journal

African Journal of International and Comparative LawEdinburgh University Press

Published: Aug 1, 2021

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