On December 20, 2021, Menzgold Ghana Company Limited plans to begin paying its customers’ locked-up cash.
These payments will continue until June 30, 2022, according to a Menzgold statement.
According to the statement, the company was nearing completion of an audit that revealed several dubious customer claims.
“We note that a great number (about 45%) of claimants/transactions supporting documents are either incomplete, fraudulent,” the statement noted adding that some of the claims had “dates that reflect periods when our Company was not in operations and so on”.
Menzgold also claims that some customers transacted with “unethical Menzgold and Brew Marketing Consult staff members and, in some cases, through referrals, mostly close relatives, who took delivery of their funds under the guise of enrolling them in the Menzgold “Gold Vault Market” but ended up engaging in the numerous cryptocurrency products on sale in Ghana.”
Prior to the final phase of the audit, traders and claimants will be questioned to fully establish facts and examine discrepancies and irregularities.
According to the company, invitations would be issued to certain people between October 3, 2021, and December 6, 2021, for interactions “in an attempt to explain discrepancies or irregularities.”
Following that, the organization intends to petition the Department of Criminal Investigations for further inquiry and potential prosecution.
Meanwhile, it said, “strategic significant payments have already been made to some deserving Gold Vault Market traders/Clients in camera.”
Menzgold also plans to publish a list of qualified individuals.
In response, Fred Forson, a spokesperson for aggrieved Menzgold customers, said that the consumers petitioned Parliament and requested that the business disclose its findings to the legislative body as a sign of good faith.
“Menzgold should stop dancing and hand over all this work it is doing to Parliament,” he said.
Mr. Forson also pleaded with the authorities to exercise caution in light of the development and allegations.
“In fact, the state should take over all these things that he [Nana Appiah Mensah] claims he is doing.”
Menzgold customers have already complained about the government’s lack of commitment to recovering their funds.
They are also dissatisfied with the delay in the prosecution of Menzgold CEO Nana Appiah Mensah.
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