Members of Parliament from Volta region to help victims of Ho scam

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43790448Members of Parliament (MPs) from the Volta Region have shown their readiness to help out persons who were fraudulently duped by some clubs in Ho.

MP for Ho Central, Benjamin Kpodo, said they have agreed to meet the leaders of the group to consider their petition.

He believes they will be able to practically “initiate actions that will see how they [victims] can be helped out to get the money from the people.”
Even though he agreed the incident should not have happened in the first place, investment is a different game altogether.

“When you invest it is a risk you have taken so when the risk is realised then you begin to find means of mitigating the effect,” he said.

According to him, the people are partly to be blamed for what happened considering the MPs have done a lot of work educating residents to desist from transacting business with some of these “Susu” and microfinance companies in the region without studying their background.

“We’ve gone on air to advise people to be careful of susu operators who are promising them mouth-watering returns but people still do business with them,” he said.

At least about 40,000 people are said to have lost their investment in another microfinance scam in Ho, the capital of Volta Region on Thursday, July 14.

The customers predominantly women clad in red outfits held placards with various inscriptions. “Our money, No Vote”, “Prosperity bring our money”, and “No money, No vote” among others were some of the inscriptions.

Some of the companies alleged to have swindled some of the customers are JODEQ, Clear Image Investment, Devine Rain, Little Drop Investment Club, Prosperity and Good Health, Royal Foundation, and Royal Care among others.

They are alleged to have promised customers who invest between GH?380 – 450 returns in the range of GH?5,000 to 6,000 depending on the duration of one’s investment.

This development comes in some months away from what financial analysts have described as one of the investment scams of the century.

DKM Microfinance company and four others such as God is Love Fun Club, Jaster Motors and Investment Limited, Care for Humanity Fun Club and Little Drops Financial Services took deposits from clients for investment and bolted with their money.

Though the government and Bank of Ghana promised to help the customers retrieve their lost investment, nothing has been done so far.