12000 customers call for the arrest of Nduom and six others over locked-up funds
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12000 customers call for the arrest of Nduom and six others over locked-up funds

- Six top officials of both the Gold Coast Fund Management and GN Bank may soon be picked up by the police for questioning

- This follows a demand for their arrest following a lockup of about GHC1.2 billion being deposits by customers

About 12,000 customers of the Gold Coast Fund Management and GN Bank have called for the arrest of the board chairman of Groupe Nduom , Dr Papa Kwesi Nduom, his son and five others over locked-up funds.

The Managing Director of the fund, Kwame Ofori Asomaning, Kwaku Nduom, Rev Pebi, Boakye and Awuni were named as playing various roles in matter.

In a press release dated Wednesday, November 19, 2018, the named people were identified as those who conspired, and by their actions and inactions, duped them.

A man holding a microphone

Dr. Paa Kwesi Nduom Source: Supplied
Source: Instagram

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The group said they wish to highlight their plight and “to make public the ongoing deceit, lies, fraudulent misrepresentation, failed promises among others being meted out to our members by the management and staff of Gold Coast Fund Management and GN Bank over the last 5 months”.

They also entreated the Securities and Exchange Commission (SEC) to act on their complaints in order to protect over GHS 1.2billion of customers funds “in the next 72 hours or be seen as incompetent in this regulatory matter.”

Furthermore, they are demanding that the Bank of Ghana (BoG) “takes over GN Bank as a failed bank immediately to secure depositors funds.”

They pointed out that GN Bank has for about 16 weeks now been “unable to service minimum customers withdrawals even as low as GHS90 at its various branches”.

In addition, they want authorities to seize all assets of Gold Coast Holding, Gold Coast Fund Management, Gold Coast Securities and its direct affiliate companies and the assets sold “to pay for its liabilities to its thousands of customers.”

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Source: Yen

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