British regulators notify the dissolution of Menzgold England

General News of Tuesday, April 16, 2019

Source: Myjoyonline.com

2019-04-16

The Registrar of Companies in the United Kingdom has notified a possible dissolution of Menzgold England.

The clerk stated in the notice that "unless evidence to the contrary, at the expiration of a period of two months from the above-mentioned date. [12/02/19] the name of Menzgold England Limited will be removed from the register and the company will be dissolved. "

Upon dissolution, all property and rights vested in the company or held in trust for it will be taken over by the English Crown.

Menzgold England is the British subsidiary of Menzgold Company Limited, owned by Nana Appiah Mensah, known as NAM1.

NAM 1, a wanted man in Ghana, was recently acquitted and was acquitted of fraud charges on Tuesday, April 9 by a Dubai court.

NAM1 has been in the custody of the Dubai authorities since November 2018 for a gold market that went wrong.

Many customers, especially Menzgold's customers whose investments were locked into the collapsed gold dealer account, welcomed the acquittal of NAM1.

They hope that he will return to Ghana with enough money to settle them.

Meanwhile, a Deputy Attorney General, Joseph Kpemka, said the extradition proceedings of Menzgold's chief executive, Nana Appiah Mensah, would be triggered by the police in a month.

GHS 200 million locked up

Official records show that at least 200 million GHS were locked up in Menzgold.

Finance Minister Ken Ofori-Atta revealed it during a meeting with army officers in which the president, Nana Akufo-Addo, was sitting.

This information, which answered a question, reveals for the first time the extent of the loss suffered by Menzgold's customers after an undisclosed number of them bought the money by paying between 7% and 10% of returns on special gold collectibles purchased and deposited with the company.

The issue of an army officer also revealed the degree of involvement of security officers in the company that would have attracted a wide range of Ghanaians, including religious leaders.

Already 53 soldiers in January 2019 sued Menzgold Ghana Limited for failing to repay $ 2.5 million in investments.

The company began to collapse in September 2019 after the Securities and Exchange Commission ordered it to end its activities in the "gold" dealerships.