Investment Customers Sue IGP, BoG & A-G

In an interesting twist of events, customers of Onward Investment Limited have initiated legal proceedings against the Inspector General of Police and the Attorney General as they move to retrieve their monies from the financially defunct investment company. Early on the customers had sued the financial institution together with the Bank of Ghana for their loss and their inability to retrieve their monies from the company. However, some of the customers led by Frank Asante and 131 others have dragged Onward Investment Limited, the Bank of Ghana (BoG), the Inspector General of Police (IGP), the Attorney General (AG), Samlab Transport LTD, Hubert Atta Appiah, Richard Samah, and James Mills to court over the issue. According to the statement of claim, over a million cedis and partly 13, 000 is owed to them by Onward Investment Limited. The customers� woes began when the Bank of Ghana early this year halted the company�s activities leaving investments of customers frozen indefinitely after it said it had not licensed the company to take monies from the public and engage in on-line foreign exchange trading. Osman Alhassan, who is the lawyer for the aggrieved customers told Citi News the case will be heard on Tuesday at an Accra High Court (Commercial Division). He explained why his clients have dragged the IGP to court. �When the Bank of Ghana froze the accounts of Onward they reported the case to the police who raided the offices of the investment company and took some money that is why the two institutions are involved in the suit.� He added: �We accompanied our writ of summons and the statement of claim with another application for an order of preservation and detention of everything we think is the subject matter of the suit to be brought to court. In the case of the AG, we know the AG is the lawyer of the State and because some of the institutions sued are State institutions, the AG becomes the nominal defendant but the AG is not part of the suit,� he clarified.