By ALEX SILAVWE
INVESTORS that put money in various Lawrence Paul Investments Company securities products, have appealed to the Securities and Exchange Commission (SEC) to expeditiously address their concerns regarding their invested funds.
Speaking on condition of anonymity, the investors expressed concern at the lack of communication from both SEC and Lawrence Paul regarding the safety and refunds of their money.
As a regulatory body, the source said SEC should have been in the forefront to assure the public and give them confidence that their invested funds are safe and will be refunded.
“You see SEC is just too quite on this issue and it involves millions and even billions of kwacha. Some families had invested their hand earned monies such as pensions into Lawrence Paul. However, we have found out that Lawrence Paul did not invest in any government bonds as back-up. We are now left in limbo and we need SEC to clear this anomaly, “said the source.
He added that the 7 months that have so far elapsed since SEC took control of Lawrence Paul, is enough to investigate and address the concerns of the investors.
“Like we indicated last time, our investigations have revealed that Lawrence Paul only has a piece of Land in Siavonga. And what is the value of this piece of Land and how can it help us, “questioned the source.
However efforts to get a comment from SEC proved futile as the in charge could not be reached by press time.
