Gold Coast customers in Western Region threaten demo over unpaid deposits

Gold Coast customers in Western Region threaten demo over unpaid deposits

Over Four Thousand customers of GoldCoast Securities Company Limited in the Western Region are threatening to embark on a massive demonstration in the

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Over Four Thousand customers of GoldCoast Securities Company Limited in the Western Region are threatening to embark on a massive demonstration in the capital, Sekondi-Takoradi, over their unpaid deposits.

The customers on Saturday at a brief meeting at the forecourt of SSNIT House in Takoradi, where the company rents office space, decided to embark on this intended demonstration on Monday, April 15, 2019.

The aggrieved customers are determined to stimulate actions leading to the released of their “locked up” investments with the company by presenting a petition to government through the Western Regional Minister.

A convener of the group, Daniel Asmah told Skyy New, they are not enthused about the company’s financial arrangements to pay off their investments.

The new arrangement, termed as Cardinal Fund replaces the Structured Finance product which was previously offered by the company. This fund has according to the company will have clients sign;

1. A bond that will provide a predefined interest rate; and possess

2. A diversified equity portfolio that will provide long term capital gains and dividends.

“Customers who choose not to transition their investments into the portfolio described above will be placed on a Payment Plan for their outstanding balance with Gold Coast Fund Management. We will work with you to return your funds within a one to five-year period to be negotiated based on a number of factors, including the size of the investment involved” the company noted in a release to customers in March this year.

But Mr Asmah alleged that the company is forcefully imposing a new financial arrangement onto the customers.

He stressed that the company is perpetuating illegality adding “Gold Coast in actual sense is operating on illegality. We need our money…because they have been authorised to discontinue what they are doing”.

Mr Asmah warned that the demonstration shall be pursued in series until their desire and concerns are addressed.

He exclaimed that “We all are anticipating they give us our money. A lot of people are dying out of this. We all wish that after the demonstration everybody will be paid and the country will be free. If GoldCoast fails us, then we will have to match to government”.

By: Kekeli Kuatsenu/awakenewsonline.com