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Three years ago the SEC shut down Menzgold for operating without a license
Members of the Menzgold Aggravated Clients Coalition called on Parliament to investigate the Menzgold shutdown, including the role played by the Securities and Exchanges Commission (SEC) and the EOCO, as well as the bank accounts of the CEO, members of the board of directors of Menzgold and the beer marketing companies.
Customers also want lawmakers to investigate the location of some 400 kilograms of gold assets.
Three years ago, the SEC shut down Menzgold for unlicensed operation.
The company was seen as operating a Ponzi scheme.
Thousands of customers are still chasing their stranded capital at the now defunct gold distribution company that promised customers hefty monthly interest rates.
Customers of the business at a press conference in Accra today, Tuesday, September 14, 2021, said the shutdown of the business was “reckless, sloppy and unproductive.”
They said the authorities had never sought to protect the ordinary Ghanaian customer and that over a million Ghanaians who have been directly and indirectly affected by this development have yet to see any recourse from the government or its agencies to help clients recover their stranded investments.
Rather, they said that the criminal prosecution of Nana Appiah Mensah, CEO of Menzgold, has dragged on for so long as the company’s collapse is worsening the plight of clients.
Customers want the country to treat the unresolved Menzgold case as a “national emergency disaster”.
They called on the government to work closely with Parliament to find a lasting solution to their plight.
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