SEC requests EOCO help to retrieve server of Nduom’s Blackshield Capital

The Securities and Exchange Commission (SEC) is said to have sought the help of the Economic and Organised Crime Office (EOCO) to retrieve the server of Blackshield Capital Management Limited as part of investigations.

Blackshield Capital Management, formerly known as Gold Coast Fund Management, was one of the fund management firms whose licenses were revoked in 2019.

Though expressing disappointment with SEC’s decision, Blackshield says it has cooperated with SEC all through the investigations.

But Director General of SEC Reverend Ogbarmey Tetteh had written to EOCO to complain about a seeming lack of cooperation by the outlawed fund management company.

This came as a shock to the company, whose legal representatives wrote to Rev. Tetteh to express reservation about the move.

“We are however surprised at your complaint to EOCO given that, when you demanded the said information, we wrote to you on the instructions of our client to inform you that the information you were seeking was housed in the Blackshield offices you have had under your control since November 2019 when you revoked our client’s license.

“Additionally, the said customer information was submitted to your appointed agent, PricewaterhouseCoopers Ghana during its forensic audit and was again submitted to you through the several proposals made by our client on the status of its customers prior to the revocation of its license.

“Given the above, it is unfortunate that you would consider our client as uncooperative and engage EOCO in this matter.”

Blackshield wants SEC to engage with it anytime it requires information as part of its probe than to “resort to such methods as you did in procuring the server”.

Source: 3 News