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Minority petitions Luxembourg’s SEC to probe $2.25bn bond

The minority in Parliament has petitioned the Securities and Exchange Commission in Luxembourg in the ongoing crusade for disclosure on controversial 2.25 billion dollar bond.

This comes after a similar petition was sent to the US Securities and Exchange Commission to probe what the NDC suspects to be the underhand circumstances which enabled Franklin Templeton Investments to pick up a chunk of the bond.

In this new petition, the Minority wants Authorities to investigate the Luxembourg based subsidiary of Franklin Templeton which bought the bond on behalf of its Parent Company.

The Minority’s complaint was filed by its Ranking Member on Parliament’s Foreign Affairs Committee, Samuel Okudzeto Ablakwa.

In April 2017, the Ashanti Regional Youth Organiser of the National Democratic Congress (NDC), Yaw Brogya Genfi was also compelled to petition the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the $2.25 billion bond whilst posing a series of questions.

The Finance Minister Ken Ofori Atta addressing Parliament on the issue in June described attacks on the $2.25 billion bond issued as baseless, asserting that the issuance was not shrouded in secrecy or cooked for any particular investor.

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