LIQUIDATOR SET TO CLEAN UP “MY COIN” MESS IN BO
A major step has now been taken in the effort to clean up the economic and social mess created by a company that we now know as MY COIN. The High Court has agreed with the Bank of Sierra Leone that MY COIN was totally unregistered for the financial business they were doing. It means therefore that allowing them to continue doing so might result in serious social unrest because their risky business would eventually collapse and of course the consequences would be on the streets for all to see.
A liquidator has now arrived in Bo, the epicenter of the MY COIN project to begin the process of closing the company down according to law. We don’t claim to have any expert knowledge in such matters which is why we have patiently followed all the processes bringing us to where we are now. It is the responsibility of the liquidator to explain his processes to those who invested big money in MY COIN so they understand what happens next. Social media is now full of information that we believe is unhelpful to the work of the liquidator.
For now, we want to put some issues on the table for the authorities to consider.
1. How do we guard against having to fight this kind of scheme all over again and again? When we experienced so-called Wealth Builders and Power Rangers, we thought policies were now in place to stop people ever trying to open investment schemes without the necessary papers from BSL and other agencies of government. Just a few years down the lines, we have MY COIN. Surely there must be a way to stop this.
2. Why did it take so long for BSL to know such unauthorized risky investment banking was taking place in our second city?
3. We hope BSL and the liquidator will act fast and stop assets belonging to MY COIN from being transferred to fake owners just to keep them out of the claws of the liquidator.
4. Now, what’s going to happen to the man who set up and operated MY COIN? As far as we know he is still a free man. Any cent of our taxes spent in this case should be recovered.
THE ENGLISH PREMIER LEAGUE IS BACK: SALONE LEAGUE IS COMING
The ball is rolling again in the English Premier League and the fans are back after the UK made good progress in the fight against COVID-19. Football fans in this country are at it again. They are talking about new players brought into the EPL, those leaving and which team will win the competition. The EPL is well packaged and delivered to the world. We all pay comparatively good money to keep the satellite connection up and running either directly or in mushroom cinema houses.
At the same time our local league is re-starting in about THREE weeks. The league was stopped midway when the THIRD WAVE of COVID -19 struck. We are deep into the rainy season and playing surfaces are terrible so will the league resume in September?
Already, a row is brewing about the decision to re-do the fixture for a league that was already underway and gaining momentum when the THIRD WAVE of COVID – 19 hit Sierra Leone. Re-doing the fixture for us is just like a man traveling to Bo and on approach to Mile 91 the car breaks down. The man summons mechanics from afar and they fix the vehicle. He pays them off and then he decides to return to Freetown just to re-start the same journey. What sense does that make? So what’s wrong with simply inserting the new dates and keeping the match-up of the team as they were before the league was halted? Why attempt to change things?
We need this league to run so that our home-based boys would put pressure on players coming from abroad for positions in the team as we move towards Cameroon. We have very talented young boys at home that can challenge for places in our starting squad. The league MUST run smoothly for the world to see those boys.
We warn the Premier League Board not to change any fixture in the middle of the league season. It’s wrong.
Copyright © Politico Online (16/08/21)
