The Hon. Member of Parliament for Bawku Central, Mahama Ayariga has questioned the rationale behind the Securities and Exchange Commission’s failure to pay some customers of BlackShield Capital investment formerly (as Gold Coast Fund Management even though Parliament approved money for government to pay.
He made this submission during the sitting of the Special Committee investigating the matter. The Committee was set up by the Rt Hon Speaker, Alban Bagbin after the MP led the affected customers to petition Parliament.
The petition called on Parliament to establish what has accounted for the Government’s alleged failure to pay the customers of the defunct Gold Coast Fund Management. Mr. Ayariga noted that most of the members of the petitioner’s association had gone on pension and had invested all their retirement benefits in the fund and have now been rendered destitute with many dying as they were not able to afford critically needed medical care.
The Legislature submitted the petition to Parliament on behalf of some aggrieved customers of Blackshield Capital Limited on 27th November, 2023. The petitioners of the defunct Gold Coast Fund management are Charles Frimpong, Nathaniel Mensah, David Opoku and Rosemond Mensah.
The Committee hearing the matter is composed of Hon. Joe Ghartey as Chairman, Hon. Nii Lantey Vanderpuye, Hon. Dr.Benjamin Yeboah Sekyere, Hon. Kwasi Ameyaw- Cheremeh and Hon. Gizella Tetteh-Agbotui.
In his opening remarks, the Chairman, Hon. Joe Ghartey said that, the Committee would be open and transparent. He again added that, this evidence-taking proceedings would generally be held in the public.
Public Institutions to appear before the Committee are Securities and Exchange Commission(SEC) as a Regulator, Ministry of Finance(MOF), Price Waterhouse Coopers(PWC) and the Registrar of Companies to make their submissions.
The Director General of the Securities and Exchange Commission, Rev. Alfred Ogbarmey Tetteh was the first to appear before the Committee and is expected to appear again on Friday 1st March 2024 together with other institutions of the State.
Source:Mybrytfmonline.com/Kwabena Nyarko Abronoma
