Customers Attack US Group of Companies

But for the timely intervention of the police, customers of US Group of Companies would have ransacked the Ho office of the firm. Over 100 customers of the company, who invested in the failed tilapia investment scheme, were invited by the company�s officials to receive their monies. But the offices of the company were locked when they got to the premises. The irate customers besieged the offices of the company and its radio station, which are all housed in the same building. Speaking in an interview with 'Business Guide' after the police foiled their plans, they said they were unhappy with the elusive and fraudulent tactics that the company�s Chief Executive Officer (CEO), Chief Godfred Medicin� and his staff had adopted. They stated that they would do everything possible to retrieve several millions of Ghana cedis from the company since it breached the contract. According to reports, some customers proceeded to the studios of the radio station and succeeded in stopping the morning show, which was being hosted by Torgbui Ahorgo. The police, upon a tip-off, immediately moved to the place to restore clam. They led the customers out of the main building and allowed five representatives to meet some US officials for over an hour. After the meeting, the representatives � Simon Deho, Henry Quarshie, Agbenyavu Reuben, Samuel Azah and Alex Kwadzobu, told their colleagues and the press that they had spoken to the CEO, Chief Godfred Medicin� on phone and that he promised to meet all customers on 23rd January, 2014 at the Pensioners Hall. Despite the assurance, the customers were unconvinced and vowed to ensure the arrest and prosecution of the CEO if he failed to pay their money. The US Group of Companies is an indigenous company which has offices in the Volta, Eastern, Central, Ashanti and Greater Accra regions. It promised its clients incredible profits which it failed to honour last year. Chief among the schemes that were used to siphon the hard-earned income of clients were the tilapia investment module and money investment module under the US farming project. Customers were said to have invested huge sums of money ranging from GH�100 to over GH�100,000. The unsuspecting customers claimed they were promised interest of between 96 percent and 120 percent over six to 12 month period. However, when the date for redeeming their investments was due (somewhere in June and July 2013), not even a pesewa was paid to them. It also failed to pay a four-percent default interest on the investments every month. Last year, about 21 customers took legal action against the company while others attempted to loot the head office of the company at Nungua in the Greater Accra region. However, the police intervened in the matter to stop the irate customers. Owing to the development, the Bank of Ghana (BoG) warned the public to be wary of their dealings with the company.