More Than 3,000 Crypto-currency Depositors To Lose Huge Sums of Money; EOCO, CID Hunt For Operators
The Criminal Investigations Department (CID) and the Economic and Organized Crime Office (EOCO) are on a manhunt for the executives and operators of a cryto-currency syndicate who have supposedly cheated in excess of 3,000 individuals of their stores.
Working under an unlicensed organization name, the Global Coin Community Help (GCCH), a deposit-taking establishment, the executives are said to have fled with more than GH¢4 million of contributors’ assets.
The Daily Graphic has recorded that the company commenced as a deposit taking and later changed into a cryto-cash trading organisation which gave its clients 27 percent income consistently for a year.
From that point, the clients will lose their key deposits and any further income.
The Executive Director of EOCO, Mr K.K. Amoah, affirmed to the Daily Graphic that the state investigative bodies were on a manhunt for the executives of the complex fraud organization.
“Indeed, we have gotten protestations from the Bank of Ghana (BoG) and a portion of the contributors who have lost their deposits in the Global Coin Community Help thus, we are watchful for the directors,” he said.
The GCCH chiefs who are being chased by the security organizations are Mr Kwaku Damete Kumi and Mr David Opatey, both presently on the run.
The Daily Graphic further discovered that the slightest investor had GH¢5,000, while the most elevated contributor had more than GH¢200,000 in his or her record.
The usual methodology of the scam is to gather deposit from clients and pay them a month to month interest of 27 percent for one year, after which the primary and interests terminate, with no further commitment to the organisation.
Relocation to mintcrtx
Unfit to pay the premium and the central, the organisation moved all contributors onto an exchanging stage called mintcrtx, where coins were offered to investors dependent on the estimation of their investment and deposits.
Each coin was valued at GH¢20 and exchanged on the stage which was made and controlled by the owners of GCCH.
As of Thursday, November 8, 2018, a coin worth GH¢20 was exchanging at GH¢2 when the Daily Graphic checked.
The estimation of a coin has never exchanged above GH¢20 on the platform.
Right now, the GCCH offices operating in Nsawam in the Eastern Region and Haatso in the Greater Accra Region have been closed down and clients have shaped weight gatherings to request of state security and investigative organisations to capture the owners of the company.
The movement is like bitcoin exchange, which is presently far reaching and well known in the nation, regardless of a few alerts by the Bank of Ghana and other administrative organizations.
The bitcoin or digital currency stage fills in as a mechanism of trade made and put away electronically in the square chain, utilizing encryption systems to control the formation of financial units and to check the exchange of assets.
It has no physical frame and exists just in the system. Its supply isn’t controlled by the national bank and the system is totally decentralized.