NPP Chairman Freddie Blay fingered in PBAY-Gold Coast customers saga

The National Chairman of the ruling New Patriotic Party (NPP), Freddie Blay, is alleged to be involved in PBAY, the company said to be fronting front for the reimbursement of customers of the defunct Gold Coast Securities.

Even though the Securities and Exchange Commission (SEC) has declared PBAY as an illegal company and as such customers of Gold Coast should not fall prey to them, the NPP Chairman is alleged to have led leadership of the aggrieved customers in a meeting in a bid to help them secure their locked-up funds.

A couple of days ago, PBAY asked the general public, particularly aggrieved customers of defunct fund management firm to register with them in order to retrieve their funds on their behalf.

Each customer is to pay a charge of 2% of the sum to PBAY.

But SEC cautioned the general public from engaging with PBAY Limited.

According to SEC, PBAY is a “fraudulent” and “illegal” entity that has not even registered with the Registrar-General’s Department.

But some customers of Gold Coast had already registered with the firm before SEC’s caution and are very optimistic about their services, disclosing that the National Chairman of the ruling NPP, Freddie Blay, is involved.

Speaking on Connect FM‘s Omanbapa show hosted by Nhyiraba Paa Kwesi Simpson, customer Nkansah Boahen said leaders of the aggrieved customers were invited by the former Ellembelle lawmaker, who had expressed worry about how customers of Gold Coast are harassing the government.

Hence, his recommendation for BPAY to step in.

Together with his lawyers, Mr. Blay wanted to ensure that the case of payment is taken from court to enable SEC make payment to the affected customers.

Mr. Boahen said that they are not moved by the declaration of Gold Coast as an illegal entity as proclaimed by SEC.

“PBAY is legal, that is why our leaders asked us to register with them. If the government doesn’t listen to us by giving us our money, then we will advise ourselves in the elections,” he warned.

Reacting to the allegations by the Gold Coast customers, the Western Regional NPP Secretary, Charles Bissue, explained that Mr. Blay, who is a lawyer, will not engage in any fraudulent activity.

“Freddie as a responsible leader [and] did not sit unconcerned as people have their funds locked up. So no one should dent his image. Again, it is uncalled for these customers to threaten a vote against the government amidst all the interventions the government has done to improve the livelihood of the citizenry.

“Don’t say you will not vote or even vote against the government because of this happening even though I share in your sentiments,” he said.