Menzgold managers trying to flee Ghana; some were deported

Staff of Menzgold Ghana Limited claim some of their management have tried to flee the country as clients agitate for their locked up funds.

They added that 13 of the management members, the names of whom they listed in their statement, tried to leave but were deported.

“We confirm the travel plans of management members outside the country. Some tried and have been deported,” the staff said in a statement.

The staff of Menzgold also accused management of conniving with some persons within the government to secretly pay off selected clients of the company.

“We confirm that Management members are secretly paying off clients without a proper schedule and with assurances to other clients. This makes their act suspicious, and unfair whenever money is made available.”

“Powers in governance are aiding persons to retrieve funds but these same powers are reluctant in seeking the best solution for all,” the staff added.

The staff, who say they have been working for four months also claimed that”management has started selling off assets for personal gains and also to settle their close friends.”

The staff believe the Economic and Organised Crime Office (EOCO) must now probe the matter.

“Management members have fraudulently acquired properties such as luxury houses, schools, flashy and luxury cars and many more, to dwindle the finances of the company. We therefore wish that EOCO investigates them.”

Menzgold’s troubles began when it was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC).

Menzgold had been dealing in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns with clients, without a valid license.

This, the SEC said was in contravention of section 109 of Act 929 with consequences under section 2016 (I) of the same Act.

Aggrieved Customers have been protesting the company’s failure to settle them.

Menzgold’s rates were said to be as high as 10 per cent per month and 120 per cent per annum.

The demonstrators submitted petitions to the company, Parliament, the Securities and Exchange Commission and other authorities.

Find the full statement from the staff below

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By: citinewsroom.com | Ghana