The Coalition of Aggrieved Menzgold Customers has taken a swipe at the Security and Exchange Commission (SEC) for stating that it cannot guarantee the refund of their monies.
The group which has expressed shock over the SEC’s position said the regulatory body cannot absolve itself from blame because it failed to supervise the operations of the company.
The SEC appears to have incurred the wrath of the customers after it told them not to expect their monies any time soon
[contextly_sidebar id=”xTvfKu1llXXFBF0yaI6N4KJ2zaqXmbI8″]The leader of the Coalition, Frederick Forson said SEC must bear the cost of repayment because it neglected its mandate.
“Per their own mandate, if they have any cause to suspect that the company is operating within the necessary license, they should, first of all, protect the investments made by the customers before closing down the company. This is what they failed to do. So I am even surprised that the boss of SEC is saying this. If we are to begin any court action, we shall pick him and the institution on because they neglected their duties, they were proportionally reckless because it was a very bad decision that they took, ” he said on Eyewitness News.
We can’t guarantee refund of locked up Menzgold customers’ cash – SEC
Director-General of SEC, Rev. Ogbamey Tetteh said not much can be done for Menzgold customers.
“The truth is that we don’t know the exact quantum of money they mobilized. I think they [customers] can hope for the best but no one can give them any guarantee. Certainly, SEC is not in any position to be refunding lost investments… I am not sure they can look forward to anything.”
He, however, said the Commission can partner with other agencies to solicit information on assets belonging to Menzgold that could be used to defray the company’s debt.
“What can happen is that, whatever asset they have that can be traced, whatever of it is that can be realized can be used to sort out the people who took their money there on a pro-rata basis…[If there is nothing, nothing will be used] to sort people out,” the SEC boss added.
We’ll preserve NAM1’s properties – EOCO assures Menzgold customers
Meanwhile, the Economic and Organised Crime Office. (EOCO), has assured customers that the properties of the company’s beleaguered Chief Executive Officer that were seized are under good condition.
EOCO’s Deputy Director, Daniel Antwi revealed that his outfit has taken steps to ensure the preservation of the properties in question.
The assurance comes after the customers on Tuesday picketed in front of EOCO’s premises to demand the liquidation of the seized assets of the company.
But addressing the customers after meeting its leadership, Mr. Antwi called for calm among the agitated customers as it works to resolve their plight.
“We have gone through the petition with them [customers]. There are some of the issues we were able to address with them but there were others we made them aware that, it was not within our purview to deal with them. But there was one fine assurance. The assurance is that we will continue to use all the information given us to preserve the properties of the company that has gone into the challenge.”
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By: Nii Larte Lartey | citinewsroom.com | Ghana | nlartelartey@gmail.com
