Three protests in three months: Menzgold clients warn the government against Borborlibobor

General News on Tuesday, April 2, 2019

Source: Myjoyonline.com

2019-04-02

Many Menzgold clients have regularly threatened the government with their blocked investments in the activity described as a Ponzi scheme.

They have a song to accompany the threat: "Borborlibobor".

It is thus that very many distressed investors have sung and danced on this song that basically reminds us of the personal fear of the day of judgment.

"Adaa Yesu b3ba no wo beti bobolibobo" they walked and danced. A fanfare beating the beats that unconsciously provides energy to continue dancing.

They are victims of a company that, in good times, has made them the winner of the financial problems of life.

Promised between 7% and 10% monthly returns on investments, a Menzgold customer could generate returns of 120% per year. Good time.

But the regulators eventually intervened after several warnings against depositing money with the so – called gold distribution company, which they said had no permits. ; operating.

The Securities and Exchange Commission has ordered it to halt its gold dealership business.

Everything has collapsed since that day in September 2018. The clients, who include respected professionals, blame the government and state institutions for tolerating the business for over four years already.

They want to get their money back. But the CEO Nana Appiah Mensah (NAM1), a high-profile social figure, is no longer in the country despite bail conditions prohibiting travel.

He is in Dubai where he is being tried for a case that went wrong, the government said.

With the man not found, the government must bear the burden of anger customers.

This is the third demonstration in three months. January 8, 2019 in Kumasi, the capital of the Ashanti region, in anticipation of the president's visit to the region.

On 19 February 2019, in the western regional town of Tarkwa, artisbad miners, illegal miners and laid-off miners invested a fortune in the company.

Then, on April 2, 2019, customers began a new demonstration in Accra.

This time, the Bureau for Combating Organized Crime and Organized Crime was supposed to keep an eye on NAM1 but failed and the Securities and Exchange Commission office that was supposed to regulate it but would have slept very late at work.