Customers of defunct Gold Coast Fund Management seek “face of God” as various pleas for refund of investments fall on deaf ears

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All attempts by aggrieved customers of the Gold Coast Fund management to retrieve their monies appear to be hitting a snag. Time without number, these customers whose accumulated deposits are more than millions of Ghanaian cedis, have had to grapple with untold hardships associated with their locked-up investments.

The hundreds of customers have had to make one last gasp towards retrieving their deposits. This time, they seek the face of God, for some divine assistance towards getting their monies.

For most of these customers, the future looks bleak, rather than fulfilling as they were promised by operators of the Fund.

With mouthwatering and juicy benefits, customers were enticed with returns on deposits in the region of 10% monthly. Most of those who hooked onto this scheme dreamt of a future of smiles, but that has been replaced by one of gloomy looks.

Friday, November 8, 2019, will forever be etched in their memories as the day, their woes began. The customers woke up that day, with high hopes and expectations but that was short-lived as the Securities and Exchange Commission, SEC announced the withdrawal of the licenses of 53 fund management companies which included the Gold Coast Fund Management.

Among some of the reasons for the shutdown was the fact that the affected companies failed to pay deposits and accrued returns of clients in contravention of the investment rules.

“They have failed essentially to perform their functions efficiently, honestly and fairly and in some cases are in continuous breach of the requirements of relevant securities law, rules or conditions, despite opportunities the SEC had provided them,” a statement issued by SEC said.

Since then, these customers have attempted moving heaven and earth, just to get their investments.

They have written countless petitions to the high and mighty in society, massed up on the streets, picketed in Parliament and other public places, held press conferences all to no avail.

Mindful of the saying, “With God all things are possible,” some of the customers took advantage of the Sabbath and invoked the mercies of God for their monies to be returned them.

The venue for this special prayer was the Accra Technical University. Amidst chants of “No money, vote against” and tongues, they prayed and wailed to God, making one more frantic effort towards retrieving their cash.

Among the congregants was an 80-year-old man whose health condition had taken a turn for the worse, partly due to his inability to buy medication crucial for the treatment of Diabetes. The octogenarian narrates how life has become difficult without his invested retirement package in excess of thousands of cedis.

“I should have paid my nephew’s fees but I couldn’t pay. Apart from that, I need money for my medicals [drugs] but I’m not getting anything.”

The diabetic patient is not alone in this, a Civil Servant, Isaac Larbi beyond the prayer and divine intervention, is rallying customers to vote against the current political establishment.

“The cry, the blood of the people. People are dying, people are getting stroke, people are going through trauma. Their blood, the blood of the people. It’s as if they don’t care, they don’t care. As for me, I’ll vote against them. And everybody else will vote against them.”

The prayer session was led by a Reverend Minister, Evangelist Florence Vida Aggrey whose thousands of cedis worth of investments, remains locked up.



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