Gold Coast Customers threaten nationwide protests if government fails to pay them

Aggrieved customers of the defunct Gold Coast Fund Management have threatened statewide protests if Dr Mohammed Amin Adam, Minister of Finance, renege on his promise to pay them back.

The group postponed their protest, which was originally scheduled for Monday, August 5, after speaking with the Minister about their requests for the locked-up monies.

According to the organization, they have reached an agreement to receive payment in August and are looking forward to receiving them. 

The Securities and Exchange Commission (SEC) revoked the company's license in November 2019, locking up over 50,000 customers' investments.

The Gold Coast Fund Management was among 53 companies whose licenses were canceled for a variety of reasons, including their failure to reimburse consumers' investments.

The revocation was however followed with a promise to pay customers their monies.

In an interview with Citi News, the customers' convenor, Charles Nyame, encouraged the government not to fail to honor their promises.

"We made it clear to the government that this is the second time they are giving us their timelines. We want people to understand that we’re not doing this for political expediency sake. It’s the money that we want, we’re in a political season and we don’t take joy in muddying the water for any political party or playing the bidding of any political party.

“We need the money, so if the government has come forward to say wait give me a little time, this is the second time and we have to agree. We made it clear to them that this is the last chance, the last opportunity we’re giving them.

“If they fail to do as they have said, there’s no way we will enter into any agreement or negotiations with them. We’re going to plan for a sustained series of demonstrations until we see all our monies paid to us, should they fail to pay all our monies in August as they have promised,” Charles Nyame threatened.

Source: Lead News Online