What is it about?

This paper aims to examine the nature and operations of the two main Ponzi schemes (DKM Diamond Micro Finance Company and Menzgold Company Limited). It explores how such dubious schemes were able to circumvent financial regulatory bodies and their impact on the social, political, and economic spheres of Ghana.

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Why is it important?

This is the first paper that explores the major Ponzi schemes in Ghana. The paper equally brings out some characteristic of Ponzi schemes for investors education.


This work highlights how Ponzi schemes affect people and the country as a whole. Ponzi and pyramid schemes do occur both in developed and developing countries and their consequences are not different no matter where they happen.

Umar Mohammed
Yildirim Beyazit Universitesi

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This page is a summary of: Effect of Ponzi schemes on a country: the case of Ghana, Journal of Financial Crime, July 2021, Emerald, DOI: 10.1108/jfc-09-2020-0177.
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