Groupe Nduom Limited has expressed its disappointment in the Securities and Exchange Commission on its revocation of licenses of 53 fund management companies, includes Blackshield Capital Management which was formerly known as Gold Coast Fund Management.

In a release signed by the Chairman and CEO of Groupe Nduom, Papa Kwesi Nduom, and copied to News Ghana on 8th November, 2019, it said the entity representing the interests of the majority shareholders and founders of Blackshield, the SEC’s assertion that 99.41 per cent of its funds were placed in one investment vehicle, for instance, was “misleading and/or untrue.”

The Groupe Nduom, however said it will “continue to pursue legal action to collect funds owed in settlement of Blackshield’s client liabilities.”

The group also said it is disappointed that SEC has taken the revocation of license action without responding to the numerous requests to assist Blackshield in retrieving funds owed by various government of Ghana entities, as well as reviewing its Blackshield plans to migrate customers into a private-sector.

Find The Original Press Release In The Link Bellow

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