September 18, 2020

Official Liquidator for defunct Fund Managers seeks clients’ help to prosecute ex-officials

The Registrar General, Jemima Oware, has asked disgruntled clients of defunct fund management companies to furnish her with any evidence suggesting misconduct by former directors of the affected companies, to enable her take legal action against them.

She said this in reaction to calls by participants in the ongoing creditor meetings for the official liquidator to investigate key characters responsible for the collapse of the companies they invested their funds in.

Speaking to Citi Business News, Mrs. Oware said calls for the investigation and subsequent prosecution of ex-officials of the collapsed companies can be accelerated if the clients provide her office with incriminating evidence.

“Of course, I’ve told them, with the kind of asset base that I have, if they know of anybody, any of the directors who’s hidden assets or siphoned funds, they can assist the official liquidator. And with that whatever investigations we carry out, if there’s any fraud we’ll hand them over to the Attorney General for prosecution. But I need information.”

The Registrar General also called for calm among the disgruntled clients of the fund management companies, who are taking part in the creditor meetings, and assured that her outfit will do everything possible to ensure that all legitimate claims are validated and paid in the shortest possible time.

“It became clear during the early creditor meetings that they were more interested in when they will receive their funds. But we made them understand that we would be having some class meetings after the creditor meetings for all the investors where we will spell out what the bailout package will be.”

Source: Business