Tag: Menzgold
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Menzgold to begin disbursement of locked up funds from next Friday
Troubled gold dealership firm, Menzgold Ghana Limited says it will from next Friday, December 27, 2019, begin paying customers their locked up investments. The company since its collapse in 2018 following a suspension order from the Securities and Exchange Commission (SEC) has been unable to refund monies invested by customers. In a statement issued on…
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Menzgold will bounce back — NAM1 begs gov’t to unfreeze accounts
Nana Appiah Mensah, CEO of gold dealership firm Menzgold Ghana, has revealed that the ability of the company to settle the debt owed his customers is dependent on government willingness to amongst other things help the company retrieve some US$39 million debt owed him by a Dubai company Royal Horizon. This was made known at…
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Nana Appiah Mensah remanded for two weeks
Nana Appiah Mensah, Chief Executive Officer of Menzgold, has been remanded to two weeks in Police custody. The embattled CEO is on trial for two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without licence, contrary to Section 6 (1) of the Banks and Specialised…
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Nana Appiah Mensah arrested at Kotoka Airport
The Chief Executive Officer of defunct gold dealership company, Menzgold, Nana Appiah Mensah, popularly known as NAM 1, has been picked up by National Security operatives. He was picked up on the tarmac of the Kotoka International Aiport upon his arrival from the UAE. Nana Appiah Mensah, popularly known as NAM1 spent the last six…
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SEC probes operations of Golden Empire Legacy Limited
The Securities and Exchange Commission (SEC) has disclosed to Citi Business News that it is investigating the operations of Golden Empire Legacy Limited which is involved in the trading of gold. The Director General of the SEC, Daniel Ogbarmey Tetteh says the company has not been licensed by the outfit though it offers returns on…
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Menzgold customers do not need compensation – Dr. Lord Mensah
Economist, Dr. Lord Mensah has kicked against any form of compensation for embattled customers of gold dealership company, Menzgold. He explains that such a support is likely to encourage other forms of financial activities that breach the country’s financial laws. Dr. Lord Mensah’s comments come in the wake of recent calls by customers of Menzgold to…
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SEC responds to Menzgold suit to appear in court
The Securities and Exchange Commission (SEC) has filed an appearance to respond to a suit brought against it by Menzgold. The gold dealership company has sued the SEC and the Bank of Ghana asking that the court directs the two institutions to stop interfering in its business. Menzgold in its writ also wants the court to…
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Aggrieved customers give Menzgold 4-week ultimatum to pay returns
A group calling itself aggrieved traders of gold dealership company, Menzgold has given the company a four-week ultimatum to pay 50% principal investments of all customers. The group made this known at a press conference to drum home their demands following the refusal of the company to honor contract obligations of paying them their investment…
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Menzgold to pay customers their monies from Friday
Management of gold dealership company Menzgold, has announced that customers can visit branches of the company to demand their matured investment from tomorrow [Friday], September 28, 2018. Addressing a press conference today, Thursday, Corporate Affairs Manager of Menzgold, Nana Yaw Ofei, explained that the company will pay all its customers that were trading with them…
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Stay off our business; Menzgold sues BoG, SEC
Embattled gold dealership company, Menzgold, has sued the Securities and Exchange Commission (SEC) and the Bank of Ghana. The company in its suit is seeking from the court an order directing the two institutions to stop interfering in its business. Menzgold also asked the court to stop the Bank of Ghana and the SEC from publishing what…