Bank of Ghana halts Crypto-Currency trading in Ghana
By Nana Appiah Acquaye, Accra, Ghana
The Bank of Ghana has named six unlicensed companies who are engaged in crypto-currency trading illegally in the country. The companies are Global Coin Community Help International Limited (GCCH), Wealth Drive Ghana Limited (WDG), Devonshire Place Capital Ghana Limited, TCL Markets Ghana Limited, FX-Crypto Traders and Sonsis Susu Services Limited.
The central bank has warned the general public to desist from transacting any form of business with these companies. “Anyone who does business with these entities does so at his or her own risk and the Bank of Ghana will not be liable for the refund of any deposit lost by a depositor,” according to the Secretary to the Bank of Ghana, Mrs Frances Van-Hein Sackey.
Following the central bank’s warning the Economic and Organised Crime Office (EOCO) has apprehended two directors of Global Coin Community Help (GCCH) for allegedly swindling more than 110,000 customers of their deposits to the tune of GH¢135 million in a crypto-currency syndicate.
The two GCCH directors, Mr Kwaku Damete Kumi and Mr David Opatey, are being accused accepting deposits from the public without an authorized licence from the Bank of Ghana.
It’s believed that these fictitious crypto-currency trading companies collect deposits from customers and pay them a monthly interest of 27 per cent for one year or 12 months, after which the principal and interests expire, with no further obligation to the company.
Meanwhile depositors who are scared of losing their monies have formed pressure groups to put pressure on the government to assist them to retrieve their savings.