Business NewsLocal News

Legacy Fund Management says they’re settling their clients via payment schedule

Listen to this Article Now
Spread the love

Legacy Fund Management Limited has guaranteed its clients influenced by the tidy up of the area that they will accept their monies in full.

The organization asked them not to freeze, as it is going through every one of the cycles to guarantee that they accept their monies.

This follows calls a few clients made to government to facilitate cycles to guarantee the installment of their secured funds.

The clients had asserted that the organization had paid them just a single time and has likewise not imparted to them resulting installment dates.

In light of the cases, Legacy Fund Management in an assertion disclosed that it chose to make installment in clusters because of the various withdrawal demands it got in September 2020.

“We got various withdrawal demands from September 2020. Because of the pressing factor, it became important to make installments in clusters. All customers were properly educated, and the installments started in October 2020. Numerous first installments have effectively been made, and extra installments are to be made before long as per the plan imparted to customers.”

“We have been in correspondence with customers to advise them about the game plans and when ensuing installments will be made. We are focused on guaranteeing all customers get full installments,” the Legacy Fund Management clarified in the assertion.

The organization likewise demanded that, it has kept its customers refreshed on any data they had to know.

“We have kept correspondence with customers and outfitted them with the assertions during this period and told them through instant messages. We have kept them educated with regards to how our own course of recuperating funds from the Receiver and Official Liquidator is progressing. We get funds in tranches and give them to customers when the Receiver and Liquidator discharges them.”

“Notwithstanding funds from the Receiver and Official Liquidator, we have done whatever it may take to reclaim our ventures from different organizations to empower us meet withdrawal demands,” the organization added.

Management of Legacy Fund Management further noticed that it is working with the SEC to get its permit and accomplish full recuperation status.

Read the full statement below:

RE: LEGACY FUND MANAGEMENT

Our attention has been drawn to a publication on Citi FM online. The article suggests that clients of Legacy Fund Management are complaining that we have paid them only once and that we have not communicated subsequent payment dates.

The company wishes to respond as follows;

  1. We received numerous withdrawal requests from September 2020. Due to the pressure, it became necessary to make payment in batches. All clients were duly informed and The payments commenced in October 2020. Many First payments have already been made and additional payments are to be made soon according to the timetable shared with clients. We have been in communication with clients to notify them about the arrangements and when subsequent payments will be made, we are committed to ensure all clients receive full payments.
  2. We have kept communication with clients and furnished them with their statements during this period and notified them through text messages. We have kept them informed about how our own process of recovering funds from the Receiver and Official Liquidator are ongoing. We receive funds in tranches and pass it on to clients when the Receiver and Liquidator releases them. In addition to funds from the Receiver and Official Liquidator, we have taken the necessary steps to redeem our investments from various institutions to enable us meet withdrawal requests.
  3. The SEC restored our License provisionally and we are working to achieve full recovery status. So far our plans are on course and we pray that our clients support us to reach full operation so we can conclude all arrangements. We continue to furnish the Securities & Exchange Commission with reports on our operations including ongoing payments and efforts to retrieve our funds.
  4. We are open to listen to our clients and have provided an open door and various ways by which clients can reach us with their concerns. We continue to encourage our clients to use the channels provided to help address all their concerns. Publications in the media and alarmist statements only worsen things for everyone.
  5. We are committed to the revival of our business for our own sake and our client’s sake. One sure way to our future revival will be to satisfy everyone and the SEC. We believe will be successful and we ask for the support of our clients, and pray for their forbearance to work with the plan agreed.

Thank you.

By Management

(Legacy Fund Management Ltd)