Depositors scramble for DKM’s assets following court order
There is a scramble for the property of beleaguered DKM Financial Services as depositors storm the premises of the company in Wa and Sunyani to lay hands on every conceivable item.
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Following a court order, the depositors who have been battling officials of the company for their money yesterday stormed the offices to pick any movable item. They included office furniture,sliding doors and windows,computers and accessories, television sets, air-conditioners, bulbs, stationery, electric and electronic appliances, buses and trucks.
Bystanders watched in awe as the aggrieved customers, with the help of hired labourers and technicians, removed the items and other valuables from the office.
Officials from the Sunyani District Magistrate’s Court had earlier supervised the customers to break into the office of the company to seize the assets.
DKM used to receive investments from the public and paid impressive interests of up to 80 per cent on the investments.
With clients of more than 3,000 in its books, its network of outlets in Wa in the Upper West Region, Damongo in the Northern Region and Sunyani in the Brong Ahafo Region became life-changing offices for many, including teachers, nurses and artisans.
However, an intervention by the Bank of Ghana revealed the company's unimpressive shortage of funds, meaning it would not be able to pay the people's investments plus the stated interests.
It was, therefore, ordered by the central bank to refund the already received investments and to stop receiving any investments.
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But the company has not been able to refund the investments, let alone the interests.
Judgements
Court officials told the Daily Graphic in Sunyani that in December 2015, judgements numbering 358 were given against DKM as a result of the company’s inability to pay back the deposits and interests of its customers.
The court, in its judgements, gave the order for the detention and preservation of TV sets, office equipment, vehicles and other items belonging to the company in its storerooms and offices or houses of the CEO or employees of the company.
The officials said after obtaining judgements in their favour, some of the customers had filed the necessary writs to get the authority to seize items belonging to the company for auctioning.
Buses
At a garage on the Sunyani-Abesim road, four DKM-branded buses had been parked waiting for valuation and auctioning.
The owner of the garage, who pleaded anonymity, said some customers of the company had brought the buses, with registration numbers GR 5630-15, GR 5632-15, GT 4527-15 and GN 5604-14, for valuation after they were seized.
Sources say other vehicles belonging to the company have also been parked at garages within the Sunyani municipality after their seizure.
Wa property of company
Meanwhile, Michael Quaye reports from Wa that an individual who secured a court order in Wa has taken custody of property of the company to defray part of his investment with the company.
Elliot Gask, who was the Headmaster of Ideal College when the private educational institution opened a branch in Wa about three years ago, took custody of sixteen 32-inch
LED TV sets, more than 30 plastic chairs, office furniture, computers and other office ware at one of the branches of the company.
At the main office of the company, also in Wa, similar items were taken away under the supervision of court officials, with armed policemen providing security.
The value of the items might not compare favourably with the GH¢158,000 Mr Gask said he invested with the company but it might go some way to lessen his plight.
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Yesterday's action followed a similar one last Friday when another individual carried away a generator set from one of the premises of the company.
Company officials were not available at the time of the double act on their two offices. Indeed, both properties were under lock and key and officials carrying out the assignment needed to break into the offices to access the items.
The company has not opened its doors for business since October 2015.
The action yesterday, taken in broad daylight, attracted public interest, some of whom turned out to have invested with the company.
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A few of them said events had taken them by surprise, and that the court action by Mr Gask was an eye opener.
But given the speed with which DKM property was being taken over by individuals, any such action in future might soon prove belated.