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The problems of the Ghanaian gold distribution company Menzgold have worsened as the registrar of UK companies has notified the eventual dissolution of the company's branch in England.
The Registrar stated in a public notice that "unless there is evidence to the contrary, at the expiration of two months from the date indicated[Le2février2019lenomdeMenzgoldEnglandLimitedseraradiéduregistreetdelasociétéseradissoute"[February22019thenameofMenzgoldEnglandLimitedwillbestruckofftheregisterandthecompanywillbedissolved"[Le2février2019lenomdeMenzgoldEnglandLimitedseraradiéduregistreetdelasociétéseradissoute”[February22019thenameofMenzgoldEnglandLimitedwillbestruckofftheregisterandthecompanywillbedissolved”
Upon dissolution, all property and rights vested in or held in trust for the Corporation will be repossessed by the English Crown.
– Publicity –
Menzgold England is the UK subsidiary of Menzgold Company Limited, owned by the Chief Executive Officer (CEO) of Menzgold Ghana Limited and other companies, including Zylofon Media, Brew Marketing Consult Co. Limited and Narosa Hotel.
Nana Appiah Mensah, known as NAM1, who was reportedly acquitted and tried for fraud on Tuesday, April 9 by a Dubai court, became the most wanted CEO in Ghana, after hundreds of clients found themselves locked in his gold dealership business.
His troubles began when the Securities and Exchange Commission (SEC) in September 2018 ordered the company shut down. But after his alleged release, NAM1 should be in the country to face the charges against him by some clients.
Meanwhile, Deputy Attorney General Joseph Kpemka said the extradition procedures of Menzgold's CEO would be triggered by the police in a month.
In January of this year, 53 soldiers sued Menzgold Ghana Limited for failing to repay $ 2.5 million in investments. A number of events were organized by customers whose money has since been blocked at the gold distributor.
Finance Minister Ken Ofori-Atta revealed that the value of the deposits currently being lost to Menzgold has risen to more than 200 million Gh ¢. He made this revelation by accompanying President Nana Akufo-Addo to present equipment to Burma military personnel in February of this year.
Quoting figures for the first time, the Minister of Finance said: "I think we realized that maybe more than 200 million GHc are exceptional and that he (Nana Appiah Mensa) has been apprehended in Dubai ".
"You know that if someone invests in gold, he just can not give you 20%. So we need to ask ourselves about the type of feeling or zeal for the impossible return, and therefore the greed factor that we exert and the moment when a company is not allowed to do something and you choose to take. Go over there; I think it's a problem we need to tackle, "he said.
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