The customers gave the government five days to intervene and help retrieve their investments.
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Aggrieved customers of Gold Coast Fund Management threaten to demonstrate
Aggrieved customers of the Gold Coast Fund Management (GCFM) have threatened to demonstrate against the Groupe Nduom Companies in the Ashanti Region to demand their locked-up investments.
Angry customers of Gold Coast Fund Management
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The Coalition said the the group Chairman of the financial institution Dr. Papa Kwesi Nduom "deliberately decided to refuse to pay us back our fixed deposit investments which we have with them, even though the said investments have matured since June last year and beyond."
The members made up of pensioners said they are unable to take care of their basic needs.
The aggrieved customers in a statement alleged that Dr Nduom has loaned out their investment to his GN Bank in Ghana and those in the other African countries, as well as his GN Bank in Chicago, USA.
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"This act we believe amounts to a conflict of interest situation by Dr Nduom, which unfortunately the regulators have decided to turn a blind eye to such a major violation," the statement said.
Gold Coast Fund Management
Pulse Ghana
"Yet, Dr. Nduom and his GCFM Company have willfully decided to disregard the terms and conditions of the contracts with impunity, and surprisingly, they have gone away without any sanctions by the regulators (SEC & BoG), though, the regulators have been aware of this violation.
"We are therefore giving a five-day deadline to the Government of Ghana to swiftly address our grievances, failure to which we will hit the streets of Kumasi in a massive demonstration to lodge our protest against this grave injustice that we face from Dr. Papa Kwesi Nduom and his GCFM Company," it added.
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