May 22, 2024

Proud Menzgold Customers have said the gold dealership company Menzgold still exists so nobody should lose hope.

According to them, Menzgold has contributed a lot towards national development and for that matter it is here to stay.

Speaking to the media at a press briefing, Convenor of Proud Menzgold Customers, Maurice Ampaw Esq, stated that Menzgold has created jobs for many people and has contributed to national development.

He added that Menzgold is a legal entity therefore, the government should help the Chief Executive Officer of the defunct gold dealership company, Nana Appiah Mensah (NAM1) to retrieve his investments in Dubai to settle the debts owed to Menzgold customers and continue its operation.

“We are here to speak to the nation about certain issues concerning the Menzgold issue in this country. In the first place, we being proud customers of Menzgold believe that Menzgold is a legal entity established by law recognized by the Registrar General of Ghana and is still in existence, Menzgold has not been liquidated or has not been killed, it still exist, the structures and institutions still recognized Menzgold”

Adding that, “Menzgold has given so much benefit to the nation, the importance of the company can not be oversized, economically, Menzgold has paid a lot of taxes to the Ghana Revenue Authorities, Menzgold has paid a lot of loyalties to the Minerals Commission, Menzgold has contributed so much to the unemployment situation in the country. Therefore, we believe that Menzgold as a legal entity needs to be protected and existence to continue” Lawyer Maurice Ampaw stated.

NAM 1 is currently facing  39 counts of selling gold without licence, operating deposit-taking business, inducement to invest, defrauding by false pretence, fraudulent breach of trust and money laundering.

According to the state, between 2016 and 2018, NAM1 defrauded customers of Menzgold sum of money totalling GH¢340,835,650.

But the Proud Menzgold Customers stressed that the prosecution of NAM1 will end up with two things whether he will be sentenced or acquittal and discharge but none of them serve their interest.

“We are somehow worried, as proud Menzgold Customers we are saying that every Menzgold Customer has one interest and the paramount interest of a Menzgold Customer is the retrieval of our money, our lost investments. Nothing more, nothing less.” Lawyer Maurice Ampaw said.

“And I believe that what is happening at the court, the prosecution of Menzgold and NAM1 and the sister companies, we don’t have an issue but that serves our interest. Granted the matter before the court, the prosecution of NAM1 will end up in two things, 1. either NAM1 will be convicted and sentenced, and the sentence can come in any form, it can be a pardon, it can be a custodial sentence, it can be a fine or any other form. 2. NAM1 can be acquittal and discharge in both scenario it does not serve our interest, it doesn’t bring back our money so to us what is happening in the court does not serve our prime interest of the Menzgold Customers because if NAM1 is incastrated, we don’t get our money back, if NAM1 is acquittal and discharge, we don’t get our money back.” He indicated.

In 2018, Securities and Exchange Commission (SEC) asked Menzgold to suspend its gold trading operations with the public.

According to the SEC, Menzgold had been involved in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns to clients without a valid license from the Commission.

According to Lawyer Maurice Ampaw, Menzgold has contributed a lot to the development of the country so the company should be protected.

“Proud Members of Menzgold believe that Mnezgold has come to stay, Menzgold has come to stay, Menzgold has contibuted a lot to the national development and this is the time that beneficiary of Menzgold achieve one goal of getting our monies back” He stressed.