Nduom drags gov't to court over locked-up cash

President and Chairman of Groupe Nduom (GN), Dr. Papa Kwesi Nduom has directed Gold Coast Fund Management (GCFM) to proceed to court to recover investment funds and pay aggrieved customers of their locked-up investments.

He has also directed the company to make available to the media and in all their offices, the list of everyone who owes Gold Coast and GN Savings and was not making any effort to pay funds back.

He pleaded with regulators in the financial sector to intervene with government agencies, also without the needed results, Today newspaper reports.

Aggrieved customers of the Gold Coast Fund Management have been protesting against the Groupe Nduom Companies to demand their locked-up cash.

The customers called on President Nana Addo Dankwa Akufo-Addo and the government to intervene and help retrieve their investments.

The angry customers said the group Chairman of the financial institution Dr. Papa Kwesi Nduom deliberately decided and refused to pay them back their fixed deposit investments.

The demonstration was dubbed: "Nduom Kum yen preko".

The customers clad in red attire held placards with inscriptions such as "Nduom is using our money for crypto currency", "Mr president, God is watching", "You are a liar Paa Kwesi", "Dr Nduom bring back the monies of disabled (persons)" and marched through the principal streets of Kumasi on Tuesday, May 14, 2019.

The members made up of pensioners said they are unable to take care of their basic needs.