CUSTOMERS of a financial institution, Central Financial Consult (CFC), who are mainly farmers from the Western, Central and Ashanti regions, last Wednesday besieged the Western Regional Police Command to demand the arrest of directors of the company for allegedly defrauding them of huge sums of money.
Some of the customers told the police that they did not have financial institutions where they lived in the regions and, therefore, found it prudent to deposit their money at CFC for safe keeping till the next farming season.
Contributions from 60 of the angry farmers which were collated by the police amounted to more than GH¢380,000.
The Regional Police Command has, meanwhile, arrested one Reynolds Addo, the internal auditor, while it has mounted a search for the company’s chief executive, who was said to have bolted after he had appeared before a court some weeks ago on similar charges.
Some of the customers told the police that they had been asked to contribute in order to have access to soft loans.
They also alleged that they had been told they could earn interest on any balance in their accounts, secure loans even if they had no money in their account, be provided with financial assistance for funerals and charged only 8.5 per cent interest per annum on their farm projects.
In an attempt to retrieve their money, the affected customers from the company’s 18 branches in the three regions arrived in Sekondi-Takoradi in chartered buses to seek the assistance of the police.
They were said to have travelled from Sefwi Dwenase, Sefwi Akontonbra, Sefwi Bekwai, Sefwi Juaboso, Dunkwa, Bonsu Nkwanta, Mpohor, Asante Bekwai, Sankore, Agona Nkwanta, Adumfa, Oppong Valley, Prestea, Enchi and Sameraboi.
The CFC, which was allegedly registered to operate as a door-to-door ‘susu’ collection unit, transformed itself into a financial institution and opened branches in the Western and Central regions and parts of the Ashanti Region, with its headquarters in Takoradi.
When contacted, the Western Regional Crime Officer, Mr Victor Agbetornyo, said in the early hours of Wednesday, the affected farmers started arriving in buses from parts of the region to lodge the complaint.
The crime officer said the company had established offices in plush buildings in the regional capital, a practice which gave the company credibility in the eyes of the unsuspecting customers.
He said the company was registered but not permitted to operate as a financial institution and advised the public to check the backgrounds of financial institutions before dealing with them.
The crime officer assured the customers that the police would do everything to apprehend the other officers behind the company.
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