The Commission said the indicted persons could include past officers and shareholders of the affected companies.
Some 53 Fund Management Companies had their licenses revoked by the SEC on Friday as part of processes to sanitize the sector.
The action comes after several complaints about the failure of some fund managers to pay customers their monies.
SEC said persons who were found to have engaged in criminal behaviour, leading to the revocation of the licenses, will also be made to face the law.
“The SEC will ban past and present officers and shareholders whose actions and inactions led to the revocation, from operating in the Capital Market for 5 years. In cases of alleged criminal behaviour the SEC will forward evidence to the Attorney General for further investigation and prosecution,” SEC said on its website.
Meanwhile, SEC has said that its authorized agents will secure the premises of the affected companies for further investigations under section 26 of the Act.
Below is the list of companies whose licenses have been revoked
All-Time Capital Partners Limited
Alpha Cap Securities Limited
Axe Capital Advisors Limited
Apex Capital Partners Revoked
Beige Capital Limited Revoked
Brooks Asset Management Limited
Cambridge Capital Advisors Limited
Canal Capital Limited Revoked
Corporate Hills Investment Ltd.
Dowjays Investment Limited
EM Capital Limited Revoked
Energy Investments Limited
Fromfrom Capital Limited
Frontline Capital Advisors Limited
FirstBanc Financial Services Limited
Galaxy Capital Limited
Gold Coast Fund Management Limited
Gold Rock Capital Management Limited
Goldstreet Fund Management Limited
Global Investments Bankers Limited
Heritage Securities Limited
Ideal Capital Partners Limited
Integrity Fund Management Limited
Intermarket Asset Management Ltd
Kripa Capital Ltd.
Kron Capital Limited
Legacy Financial Services
Liberty Asset Management Limited
Kamag Kapital Limited
Mak Asset Management Limited
Man Capital Partners Limited
Mec-Ellis Investment(Ghana) Limited
McOttley Capital Limited
Monarch Capital Limited
Mutual Integrity Assets Management Limited
Nesst Capital Limited
Nickel Keynesbury Limited
Nordea Capital Limited
Omega Capital Limited
Procap Finance Company Limited
QFS Securities Limited
SGL Royal Kapita Limited
Sirius Capital Limited
Strategic Hedge Capital Limited
Standard Securities Limited
Supreme Trust Capital Limited
Tikowrie Capital Ltd.
Unisecurities Limited
Universal Capital Management
Ultimate Trust Fund Management Ltd.
Utrak Capital Management Limited
Wealth Vision Financial Services Limited
Weston Capital Limited
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