Court orders sale of school, other properties to pay crypto victims

The valuated properties will be auctioned on May 27, 2019 A Commercial Court in Koforidua has ordered the sale of immovable commercial properties including a School – Perfect Love Montessori School – belonging to Kwaku Damete Kumi , the embattled Chief Executive Officer of Global Coin Community Help, a defunct Crypto currency firm at Nsawam in the Eastern Region.

The order was made by the Court in a judgement in favour of some swindled customers who filed a suite praying the court to retrieve their locked up investments with the company.

The valuated properties to be auctioned on May 27, 2019 are 3-storey office Complex with open market value of GH¢3,307,200.00 however with forced sale value of GH¢2,315,000.

Again, a 3-storey block with open market value of GH¢651,400. is being sold at GH¢455,900.

A Two Office space facility is also being auctioned for GH¢32,700.instead of its market value of GH¢46,700.

Meanwhile, the Perfect Love Montessori School located at Nsawam-Gyankrom is being auctioned for GH¢488,500.00 as against open market value of GH¢697,800.

Already, Leaders of total of 831 victims of the crypto currency investment scam have called on President Akufo-Addo and the Chief Justice, Sophia Akuffo to call the Economic and Organized Crime Office (EOCO) to order for frustrating their efforts to retrieve some GH¢3.7 million from the account of the defunct financial company – Global Coin Community Help (GCCH) lodged at the Ghana Commercial Bank in a judgement delivered in their favour by a Koforidua High Court.

The amount is in garnisheed account of GCCH at the Ghana Commercial Bank (GCB).

The amount represents just a minute fraction of over GH¢15 million the plaintiffs prayed the Koforidua Court to recoup from the company to pay for their lost deposits at GCCH.

The victims include personnel in the security services, nurses, business women, traders among others.

Chronology of events and EOCO legal drama In September, 2018 Global Coin Community Help (GCCH) abruptly closed down its offices in Accra, Koforidua and Nsawam without any notice to its over hundred -thousand customers.A panic action which was taken after the Bank of Ghana issued strong warning to unlicensed deposit taking institutions to stop operating. Customers of the crypto currency firm sensing danger of their lost investments, dashed in groups to petition EOCO to assist them retrieve their locked up investments.The victims were advised by EOCO to take legal action against the company upon which separate civil suits were filed at the Koforidua […]

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