GAKPETOR GEORGE KOBLA & 29 ORS. VS TSYOKPLO BRIGHT & ORS

The Plaintiffs numbering 30 individuals sued the Defendants for the following claims. a) Recovering of the sum of GH¢263, 125. 68 being investments made by the plaintiffs’ in the defendants’ business and the accrued interest. b) Interest on the said sum of GH¢263, 125. 68 at the prevailing bank rate from the various dates of maturity of plaintiffs’ investment to date of find payment.

c) Cost including legal fees.

The plaintiffs described themselves as businessmen and women, civil servants and artisans who have invested their monies into defendants’ company.

That, 1st and 2nd defendants are the directors of the 4th defendant’s Limited Liability Company.

The 3rd defendant is the secretary to the 4th defendant’s company.

CASE OF THE PLAINTIFFS It is plaintiffs case that sometime in June 2010 the defendants issue invitation to the general public as to prospects of participating in the 4th defendant’s company.

According to plaintiffs, defendants promised various rates of interest on any amount of money invested with the company.

Plaintiffs’ averred that based on the public notice and representation made by the defendants, they were lured to invest various sums of monies to the defendants.

Plaintiffs contend that defendants promised that, interest accrued on their principal investments could be withdrawn after six (6) months of investment upon seven (7)days’ notice.

Plaintiffs state that, they have invested a total amount of GH¢154, 939. 00 on varied dates with the defendants’ company and were to recover the sum of GH¢263, 125. 68 upon maturity.

That contrary to the agreement, years have passed, maturity dates have long lapsed but all attempts for defendants to honor its side of the obligation proved futile.

They were later told the 4th defendant company is in liquidation.

That their search at the Registrar Generals Department in Accra, revealed that 4th defendant is not in liquidation.

Plaintiff pleaded fraud and the particulars of fraud is stated at paragraph 13 of the statement of claim as follows.

a) Representing to the plaintiffs that 4th defendant is being liquidated whilst in fact that is not the case.

Plaintiffs states that the defendants will not pay their monies until compelled by the court.

CASE OF DEFENDANTS On the 5/3/2015 a joint statement of defence was filed on behalf of four (4) defendants.

It is their case that the 2nd and 3rd defendants have resigned as Director and Secretary from the 4th defendant’s company.

According to def