COMMUNITY DEVELOPMENT ALLIANCE - (PLAINTIFF) vs. GOLD COAST FUND MANAGEMENT (DEFENDANT)

The Plaintiff, on the 17th October, 2016, made an investment with the Defendant Company known as “Structured Financial Investment in the sum of GH¢18,000.00. By the terms of the agreement, parties agreed that the principal sum and all accrued interest were to be re-invested at the end of each period of investment subject to Plaintiff’s right to determine the investment at any time and redeem the investment and accrued interest with at least 3 days prior notice to the Defendant. The Plaintiff on the 11th November, 2016 made another investment with the Defendant under the same terms and conditions. By a letter dated 20th November, 2017 the Plaintiff requested the Defendant to merge the two investments. The Defendant accordingly merged the two investments. Then on the 23rd June, 2018, the Plaintiff made a further investment in the sum of GH¢150,000.00 for a period of 12 months at an interest rate of 27%. At maturity, the Plaintiff was to be entitled to the sum of GH¢190,490.00. ...