Cryptocurrency scam victims to drag company to court

By Mutala Yakubu
Cryptocurrency scam victims to drag company to court

Some people who fell victim to a cryptocurrency scam have vowed to take legal action against the management of Global Coin Community Help (GCCH), the company they allegedly invested with.

This decision is to allow them to seek redress in court comes as efforts by the Economic and Organized Crimes Office  (EOCO), Securities and Exchange Commission (SEC) and the Police CID to investigate and bring the company’s directors to justice have so far yielded no positive results.

One of the victims, Solomon Anderson who spoke to Citi News said they are under severe economic pressure because their funds have been locked up with the company, hence their decision to head to court in a bid to compel the company to pay back their funds.

“We petitioned EOCO, we petitioned the Securities and Exchange Commission, we also petitioned the CID and it's unfortunate we’ve not heard anything from them so our money has been locked up. Just last night we came together and decided to take a legal action since all the security agencies we petitioned have not been able to get back to us, so we are pursuing a legal action.

More than 110,000 customers deposited monies to the tune of GH¢135 million in a cryptocurrency arrangement but it turned out to be a scam.

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

The principal investments of the depositors and interests payments by the company would then expire after a year with depositors expected to earn their investments back after just four months.

Many of the victims are already suffering public backlash with claims that they were driven to invest huge sums into the company by greed.

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