Ernest Ossei Boateng / Intercontinental Wealth Network / I Wealth Network

Summary

The U.S. Securities and Exchange Commission filed a civil fraud complaint on September 10, 2026 against Ernest Ossei Boateng and his New Jersey-based companies, Intercontinental Wealth Network LLC and I Wealth Network LP, alleging an approximately $16 million Ponzi scheme that ran from at least January 2020 through March 2026. The complaint alleges Boateng, who was not registered with any securities regulator and had twice failed licensing exams, used his standing in the Ghanaian Christian community in New York and New Jersey to solicit over 200 largely inexperienced investors — including retirees, taxi drivers, home health aides, an ailing widow, and at least two churches and a prayer group — with promises of guaranteed, low-risk returns. The case is a civil SEC enforcement action; the allegations are unproven and no criminal charges or final judgment have been reported.