Home News Customers besiege Menzgold premises after SEC order of shutdown

Customers besiege Menzgold premises after SEC order of shutdown

Hundreds of Menzgold investors besiege Menzgold premises to retrieve their money after SEC's letter shutting Menzgold down leaked online

Hundreds of Menzgold customers have besieged the premises of Menzgold Ghana Limited to retrieve their deposits since news of SEC shutdown went viral today, 12th September 2018.

In some instances, even chaos broke out among some customers and the management of Menzgold when customers refused to go back home without their money.

SEE HERE: Menzgold closed down by Securities and Exchanges Commission

The chaos started when customers were disallowed from entering the premises of Menzgold but as it stands now, calm has returned to the venue after customers were allowed inside. Meanwhile, hundreds of customers continue to troop to the premises.

Hundreds of Customers besiege Menzgold premises

A letter from the Security and Exchange Commission to the Nana Appiah Mensah owned Menzgld ordering them to shut down their operations for violating operation permit leaked online earlier today.

Part of the notice to Menzgold from the Security and Exchange Commission reads:

“Accordingly, the SEC hereby directs Menzgold Company Ltd to shut down immediately the business of trading in gold collectibles with guaranteed returns to clients which constitutes, in essence, dealing in securities with neither the necessary license nor disclosures authorized by the SEC. No new contracts should be created and all advertising of the investment business halted with immediate effect.”

SEE HERE: Menzgold closed down by Securities and Exchanges Commission

READ ALSO:  Manasseh Azure resigns from Multimedia

The management of Menzgold has, however, come out with a statement expressing their disappointment with SEC for leaking the letter online. They threatened legal actions against the Security and Exchange Commission.

The management also assured customers/investors their deposits are safe and they are doing all the can to resolve the standing issue with SEC.

READ ALSO:  Pakistan national sues NAM1 in Dubai court over $1m debt

SEE HERE: Management breaks silence on the close down of Menzgold

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