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Deputy Director-General, Legal, of the Securities and Exchange Commission (SEC), Deborah Mawuse Agyemfra has assured Ghanaians that the fund management firms whose licences were revoked will not go unpunished.

According to her, the SEC is still investigating the firms and all their findings will be forwarded to the office of the Attorney General for prosecution.

Validation Of Investment Claims

Mrs. Mawuse Agyemfra empathized with the affected investors who placed their monies in these companies and promised they will all be reimbursed.

She asked them to pick up forms at the Consolidated Bank of Ghana Limited (CBG) and its branches for validation of their investment claims.

The Commission has set up 29 validation centers for the claims.

She further explained that the delay in refunding their monies is as a result of administrative work and the COVID-19 pandemic but stressed the SEC hasn't reneged on its obligation to the investors and the general public.

Prosecution

Although over fifty companies were shut down by the SEC, the Deputy Director-General also disclosed that some have appealed and had their licences invoked by the Commission and have been advised to do the right thing.

As for the rest of the companies, they will be processed by the Attorney General for prosecution in the law court.

''We have to go to court. We, the Securities and Exchange Commission, have no authority to arrest any person. We will forward our findings to the Attorney General for the Attorney General to proceed with prosecution...Before we did the revocation, we did a forensic audit on 21 of the companies and we didn't do all that work for nothing. We will forward everything to the Attorney General because she has the power to take it forward for prosecution. We, the SEC, don't have the power but the forensic audit we have done, the report we're doing and the validation that's going on and the work that the official liquidator will do to search for all the money will end up with the Attorney General for prosecution if needed'', she said in an interview on Peace FM's morning show ''Kokrokoo''.

Affected Clients To Be Reimbursed

Mrs. Mawuse Agyemfra urged all affected investors to file for validation at the selected centers or send an email with their names, amount of investment and the company name to [email protected].

They are also advised to visit the Commission's website, www.sec.gov.gh, for all relevant information and with those who have already filled their forms but have complaints should dial 0800100065.