Two officials of Wyselink Microfinance Ltd have been arrested and are currently in the grips of the Police Criminal Investigation Department (CID) for operating with fake license.

The two are the Director Isaac Fiifi Morgan and Operations Manager Eugene Amankwah Asante.

The Central Bank on Thursday cautioned the public against doing business with the company after discovering they were operating with a forged license from the Bank of Ghana (BoG).

The regulator has subsequently closed down the operations of the firm in Takoradi, Assin Fosu, Ofankor and Doboro. Checks by Starr Business with the Central Bank revealed Wyselink Ltd has been in operation for about a year now with its head office in Takoradi.

BoG began investigations into the activities of the firm after receiving some complaints on social media about some malpractices at its Ofankor Branch in Accra.

The Central Bank subsequently invited Morgan and Asante over the issue last month. The police stepped in when the fake license was discovered.

The owner of Wyselink Rev Eric Nhyira Baafi and other top officials are on police wanted list.