Court orders auctioning of Menzgold’s assets in Kumasi

The woes of the gold collectible firm, Menzgold continues to deepen as a court in Kumasi in the Ashanti Region has ordered that properties of the distressed firm be auctioned following a writ of fi.fa filed by one Henry Darko

The court ruled that properties of the firm in Amakom, Patase, which are all suburbs in Kumasi be sold at a public auction.

The circuit court said: “Notice is hereby given that in pursuance of a decree of the said court bearing the date 14th day of November 2018 in the above suit, the property of the said defendant (Menzgold) having been seized in execution under a writ of fi.fa dated the 3rd day of December 2018 will be sold by public auction on the 16 day of January 2019 at 10 a.m., unless the said decree shall be sooner satisfied, to wit: Properties at Amankom, Ashanti Region; all personal properties in the office of Menzgold Ghana Limited, Amakom, Kumasi; and all personal properties in the office of Menzgold Ghana Limited, Patase, Kumasi”.

In a related development, a Ghanaian-Belgian, Roger Knauf, has, through his lawyers, Clinton, Amoo Lamptey, Barnsbury Chambers, petitioned the Attorney General of Ghana, Gloria Akuffo, and copied President Nana Akufo-Addo, as well as several security agencies, to have Interpol pursue the CEO of Menzgold Company Limited, Nana Appiah Mensah (NAM1), on his behalf as well as on the behalf of some collectivized customers of the gold-trading firm, whose investments have been locked-up at the troubled firm.

Recently, staff of Menzgold accused the management members of living extravagant and profligate lifestyles notwithstanding the company’s woes and difficulty to clear investments of customers locked up with the firm.

“Our loyalty to both company and clients led to four months with no pay so as to bring an end to this crisis while they (management) live lavishly without remorse” the staff noted in a statement.

The staff were recently asked by the CEO, Nana Appiah Mensah (NAM1) to proceed on leave until 20 December 2018, while the recently migrated online platform has also been halted.

The staff also in their statement disclosed that management members are secretly selling off assets of the company and keeping the proceeds for themselves, with the intention of relocating outside the country to enjoy their booty.

“We also wish to inform clients that management has started selling off assets for personal gain and to also settle their close friends. We confirm the travel plans of management members outside the country. Some tried and have been deported”, the staff said.

ALSO READ: Menzgold instructs staff to go on a compulsory leave

Management members, according to staff have fraudulently acquired properties such as luxury houses, schools, flashy and luxury cars and many more to dwindle the finances of the company urging EOCO to investigates them.

“It is unfortunate to say that aside from certain external forces which caused this crisis, internal misappropriation is a key factor”, they claimed.