Following the ‘lock up’ of its customer’s funds, Menzgold in a press release announced plans to pay all its customers from December 20, 2021. According to the management of the embattled company, payment to its customers will run till June 30, 2022.
“Menzgold shall proceed to pay the final publicized list and total sum from the 20th December 2021 to 30th June 2022 in our quest to give final closure to this very depressing matter and to restore our dear enviable Company’s integrity,” Menzgold said in a statement.
MenzGold to pay customers
To ensure all its customers are paid, Menzgold is undertaking a rigorous audit of its account. They will then submit publications in the print and digital media; the” list of all paid traders/transactors, and the list of all final eligible traders/transactions as well as the total sum of indebtedness by Menzgold Ghana Co. Limited.”
The company mentioned that the auditing checks done so far have revealed some incomplete, fraudulent, and inconsistent claims by some claimants.
“Additionally, we have discovered shocking evidence that points to the fact that some claimants purporting to be indebted to by Menzgold transacted through third parties; some unethical Menzgold and Brew Marketing Consult staff members and in other instances via referrals, mostly close relations who took delivery of their funds under the pretext of signing them unto to the Menzgold “Gold Vault Market” but ended up engaging in the many cryptocurrency products on sale on the Ghanaian market, with a monthly return on investment (ROI) ranging between thirty and sixty percent (30%- 60%), the company said.”
To ensure monies are paid to “deserving” customers, Menzgold is completing the final phase of the audit by interviewing the customers to ascertain the facts.
“We are commencing the final phase of the audit; this session would be traders/claimants interviews to fully ascertain facts and satisfy ourselves with regards to questionable adverse discrepancies and irregularities that characterize some transactions claims received for audit and its subsequent payment. Hence, invitations would be extended to some individuals,” the company said in a statement.
The company says it will also send a petition to the Criminal Investigations Department of the Ghana Police Service to investigate all interdicted persons including alleged conspirators, purported clients, Menzgold, and Brew Marketing staff members.
Meanwhile, the aggrieved customers of the company have called on parliament to investigate the company’s closure and the role played by the Securities and Exchange Commission (SEC) and Economic and Organized Crime Office (EOCO).
“We call on Parliament to investigate the closure of Menzgold including the role played by the SEC and EOCO as well as the bank accounts of the CEO and board members of Menzgold and Brew Marketing Companies. The whereabouts of some 4000 kilograms of gold assets should also be investigated.”