Ghana Growth Fund Limited (GGFL), a subsidiary of Gold Coast Securities, has sued the Finance Ministry and four others in its bid to recover money purportedly owed it.
According to the writ sighted by Citi News, the money is owed a company called Reggio Company Limited, which was also joined to the suit.
Ghana Growth Fund Limited is seeking to retrieve GHc2,450,575.18 which is “the total face value of the accrued but unpaid interim payment certificates due [Reggio Company Limited] under road contracts.”
The company is also seeking interest on the GHc2,450,575.18 in addition to damages for breach of contract and costs.
The Economic and Organised Crimes Unit (EOCO) in 2018 begun investigating the operations of Gold Coast Securities after clients complained that they were struggling to retrieve their investments.
The Securities and Exchange Commission (SEC) is also working on a roadmap with the troubled investment company, Gold Coast Securities.
Customers over the past year have held protests demanding the release of their funds.
Gold Coast Holdings has assured its customers and the general public that their investments are safe and secured.
According to the company, it is making significant progress in transforming the Structured Finance product that thousands have benefited from to become an even more beneficial one.
The post Gold Coast Securities subsidiary sues Finance Ministry, others over GHc2.4m appeared first on Citi Newsroom.
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