Finally, The Securities and Exchange Commission who ordered Menzgold to stop accepting new depositors for violating Operational Permit has broken their silence on the numerous speculations surrounding the activities of Menzgold since the order.
Speaking Israel Laryear on Joy News on News Night, September 25th, 2018, the deputy director of SEC, Paul Ababio revealed that Menzgold is yet to submit the documents the SEC requested from the company despite the fact that the letter to Menzgold was delivered on the 7th September 2018.
Mr. Paul Ababio explained that the SEC is waiting on Menzgold to verify and authenticate their documents before they give them the permission to carry on with that particular services to the public since it violates its permit.
The Deputy Director of SEC also revealed that contrary to the belief in the public domain that Menzgoldhas been ordered to hold on all operations, SEC has not stop Menzgold from paying its old customers per the contract signed between Menzgold and the depositors.
Paul Ababio explained that the order of closure was that Menzgold should cease taking in new deposits. Nowhere did SEC authorized Menzgold not to give existing customers their money or returns.
This explanation goes to say that, existing customers such as Afia Schwarzenegger’s mother who has supposedly invested GHS4,3 million with Menzgold and has been weeping for days can go for her money in peace with no restrictions from any higher authority.