Former GN Health Insurance manager Divine Nkrumah has revealed that the decision to close GN Bank and Gold Coast Securities was well planned.
According to Divine Nkrumah, the government’s claim that depositors’ savings are safe is false and misleading.
He revealed that customers of these bankruptcies did not receive their deposits in full.
He told Frontline on Rainbow Radio 87.5Fm that Data Bank and other government officials who had savings with Gold Coast Securities and GN Bank withdrew them before the licenses were revoked.
“People don’t realise that these big men had their money in Gold Coast. They withdrew their funds before the company’s demise. Data Bank also had an investment in Gold Coast. They pulled their investments before the company’s license was revoked.”
He lamented that several depositors the government claimed had been paid had not received their funds and those who had received only a portion of their principal amount.