CEO of Gold trading company, Menzgold has stated in a new tweet that, his company would be paying settling clients off completely very soon and has asked customers to remain calm.
It seems the battle between Menzgold and state authorities is not going to end anytime soon, hence the reason why the company wants to completely settle clients. The securities and exchange commission, SEC has asked the company to stop trading until it is able to provide documents to back how it’s operates but since that warning was issued, Menzgold has not made any effort to submit the documents SEC asked for.
Most clients of the company became agitated after the company decided to take SEC and BoG to court over reasons that it was harming its operations. SEC had stated in an interview that, it had not stopped Menzgold from paying old customers their dividends.
Although the company had stated in a release that, it was going to start paying customers their dividends starting from September 28th, there are reports that, they couldn’t keep to their own schedule as customers received another SMS that, they would be alerted of new dates as some customers have caused harm on workers of Menzgold.
With rumours making rounds that, Menzgold intends to shut down within 90 days, Nana Appiah’s new tweet sort of gives confirms it, but we are not certain if they will shut down completely or they just want to re-invent the company and how it operates.
The good news is that Menzgold will soon settle customers completely, but per what the contract they have with clients says, we don’t know if customers would be getting their full principal back or just a certain percentage of the principal from the company, which is 75% on the contract.
We would keep you posted if we are able to find something.
See Nana Appiah’s full tweet below:
I humbly urge all Menzgold clients to kindly remain calm, as we prepare to COMPLETELY SETTLE all entitlements of any magnitude soon.We've got brands & names to protect.Self-restraint now is critical to maintain public peace & order. All is well.#MenzgoldlivesOn #GhanaShallProsper
— Nana Appiah Mensah (@mn_appiah) October 6, 2018