{"id":319628,"date":"2017-05-16T09:57:34","date_gmt":"2017-05-16T09:57:34","guid":{"rendered":"http:\/\/citifmonline.com\/?p=319628"},"modified":"2017-05-16T09:57:34","modified_gmt":"2017-05-16T09:57:34","slug":"minority-petitions-us-sec-over-2-25bn-bond","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/05\/minority-petitions-us-sec-over-2-25bn-bond\/","title":{"rendered":"Minority petitions US SEC over $ 2.25bn bond"},"content":{"rendered":"
The Minority in Parliament has petitioned the Securities and Exchange Commission of the United States to commence investigations into the NPP government\u2019s 2.25 billion dollars bond issued this year.<\/p>\n
A statement on the petition by\u00a0the Minority and copied to Citi Business News<\/strong>\u00a0 said,<\/p>\n \u201cThe SEC will primarily be investigating suspected conflict of interest and insider trading which are violations of US law by the Hon. Trevor G. Trefgarne who is a Director of Franklin Templeton and a Board Chairman of Enterprise Group – a company owned and founded by the Finance Minister of Ghana, Hon. Ken Ofori Atta.\u201d<\/p>\n Government in April this year raised $2.25 billion from four bonds<\/span><\/a><\/strong> including a 7 and 15 year bond, at a rate of 19.75%.<\/p>\n The bond which was open to resident and non-resident investors raised a lot of concerns especially from members of the opposition NDC.<\/p>\n The Minority raised issues of possible conflict of interest following the purchase of 95% of the bonds by Mr. Trefgarne who is a Director of Franklin Templeton and a Board Chairman of Enterprise Group.<\/p>\n