The Coalition of Aggrieved Customers of Collapsed 53 Fund Management Companies is serving notice of a massive demonstration across the country in September if government refuses to include them in the bailout package for affected customers.
According to the Coalition, the claims by the Securities and Exchange Commission (SEC) that documents showing their investment are not available is inaccurate.
Speaking to JoyNews’ Manuel Koranteng at a news conference, the group, made up mainly of customers of Gold Coast Securities, said they had already submitted all documents to prove their investment with their respective collapsed financial institution.
Hence, they are surprised SEC claims it does not have their documents of claims for validation and payout.
“Why would SEC sideline majority of the customers that is Gold Coast fund management customers who form 83% of the entire customers who are affected.”
“The question then is which people are they paying? Are they going to pay ghosts?” Leader of the group quiized.
Their reaction comes after management at SEC, in a statement, said it will begin payment of locked-up funds to customers of 22 collapsed institutions in September.
“Out of the 50 companies whose licences remain revoked, three did not have any claims filed against them, leaving 47 companies against whom claims were filed by affected clients.
“As at 26th August 2020, a total of 98,820 claims valued at ¢10.83 billion have been received. The Commission has full access to the records of forty 40 of these companies, partial access to one company and no access to the remaining six companies,” it said.
The Commission said it had partial access to records from Blackshield Capital Management Limited (formerly Gold Coast Fund Management Limited) as the company provided Excel data representing about 3% of claims filed by their clients.
However, customers are insisting they have submitted their claims and deserve to be added to the bailout package.
“SEC is in bed with government they are lying to us. it is not true (that their documents are unavailable). They have every access to our details and data,” one customer added.
She stated that as customers they have done nothing wrong but demand the payment of their hard earned money.
“The government has revoked their (Gold Coast Fund Management) license, so, how come you say you’re going to pay others and exclude us?”
- Four charged for violating restrictions on public gathering at Christ Embassy ‘Pneumatica Night’
- What is the big deal? – Brigitte Dzogbenuku on WGHS refusing to let students fast
- I had sex with a goat, masturbated 6 times a day – Male victim of sexual abuse recounts
- Police secures restraining order against #FixTheCountry protest on May 9
- Mahama Ayariga acquitted, Opuni ordered to open his defence
- #FixTheCountry protestors counter injunction with #NameAndShame campaign on social media
- #FixTheCountry: We’ll use the courts to set aside order against May 9 protest – Economic Fighters League
- Government declares Thursday, May 13, as public holiday to mark Eid-ul-Fitr
- Dominic Ayine questions independence of judiciary
- Methodist Church stands by its objection to GES directive to let Muslim students fast – Bishop of Northern Accra Diocese
NSMQ 2021: 3-man Sandema SHTS team with no supporters, books place in final U/E qualifiers
Sylvester N. T. T Addy (PhD): What to expect now that Ghana’s Plant Variety Protection law has been passed
No prison inmate contracted Covid-19 since the outbreak – Bawumia
Catholic Relief Service partners GWCL, assemblies to solve water shortage in Tamale Metropolis
Punter wins ¢47,000 bet with Betika
God is a woman; my new song highlights power of women – Eno Barony
Childish Gambino sued by rapper over alleged ‘This Is America’ copying claim
GHAMRO wins copyright case against telcos
Federal grand jury indicts four former Minneapolis police officers in George Floyd’s death
Water project to benefit 13 communities takes off at Ketu South
Hassan Tampuli engages contractors to begin dredging of dams in Gushegu Municipality
Missing ‘okada’ rider found dead in the bush
Thousands of cockroaches released in restaurant to settle debt dispute
Muslim worshippers attacked with eggs and stones outside London mosque
Keep an eye on househelps to curb sexual abuse – Victim of child defilement advises parents