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EOCO delaying arrest of cryptocurrency scam operators – Victims allege

Business News of Wednesday, 16 January 2019

Source: citibusinessnews.com

2019-01-16

Eoco 111EOCO initiated investigations into the issue last year

Victims of cryptocurrency scam, Global Coin Community Help are accusing government of dragging its feet in addressing their grievances.

According to them, although their issue is similar to that of Menzgold, government has failed to bring the perpetrators to book, several months after their deposits amounting to 135 million cedis got locked up in crypto-currency investments.

Earlier report showed that Global Coin Community Help swindled more than 110,000 customers of their deposits last year.

“What it will eventually lead to is what is happening with Menzgold that out of frustration, people will now get desperate. People are looking for the man, people are looking for his family. People are really looking for him but they can’t have access to him,”Kwaku Agyemang, a spokesperson for some of the victims told Citi Business News.

The investors were promised a monthly return of 27% on their investments for 12 months.

The Economic and Organized Crime Office (EOCO) in November last year, initiated investigations into the issue as it announced it had invited two directors of the company, Kwaku Damete Kumi and David Opatey for questioning.

However Mr. Agyemang told Citi Business News EOCO is taking too long in its investigations.

“It was all over the place that they were invited about two months ago. Ever since it was reported that EOCO had invited them, we’ve not heard anything about it anymore. But we are also thinking that once EOCO is involved then they will do the right thing, they will actually do what has to be done,” he noted.

Mr. Agyemang noted further that “for now, what we want to know is what EOCO or the state is doing about it because it is a common knowledge that indeed he was invited.”

The victims therefore want EOCO to speed up its investigations to make way for the arrest of the perpetrators.

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