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.
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.”
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.