Menzgold customers storm Dzorwulu office to demand payment

Customers of troubled gold firm Menzgold are staging a demonstration at the company’s Dzorwulu office in Accra.

It comes after a court in Kumasi gave an order last week for properties of the firm to be sold to settle outstanding and held up premiums of customers.

Meanwhile, Parliament has turned down a request of the company to intervene with their current impasse with its customers.

Speaking to the media after the petition to Parliament, Menzgold Chairman of the Finance Committee of Parliament Mark Mr Assibey-Yeboah said the Finance Committee warned the gold trading firm about the illegality of its operations.

“The government warned those who put their monies there… and as late as February 2017 Menzgold came to the Finance Committee of Parliament and then we told them what they are doing was illegal.

“At that point, if anyone wanted to take out their funds they would have been able to do so. I think they are crying over spilt milk. People are comparing this one to DKM. DKM was regulated by the Central Bank.

“So in a sense, it was like one of the seven banks that have gone under water. But Menzgold was not regulated by SEC neither was it regulated by the Bank of Ghana,” he said.

Menzgold in its petition is asking for “a comprehensive payment plan to pay off completely all customers who wish to discontinue their trading of gold collectibles.”