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Opinions of Thursday, 27 September 2018

Columnist: Akesse Sanza

Menzgold: Aurum Utalium vs September 28

The most anticipated day on the Ghanaian calendar now is Friday September 28, 2018. Customers of Menzgold Ghana are waiting anxiously to see what this day holds for them.

The Securities and Exchange Commission ordered Menzgold to shutdown its Gold Vault Market which was limited to the admission of new clients onto the trading platform. Though existing clients could continue with trading and receive their dividends, Menzgold in its latest release stated that it cannot continue trading while on suspension.

SEC has not asked Menzgold to close its offices for business so there is a 100% chances that the firm would be opening for business on Friday 28th September, 2018.

Aggrieved customers are only waiting to withdraw their investments to flee from the accompanied troubles, headaches and heartbreaks. As in any financial or investment institution, panic withdrawals would by all means collapse the venture. Despite the contract allowing clients to terminate at anytime with a 25% loss on principal investment, Menzgold is not likely to heed to that section of the contract should everyone troop in to terminate the contract.

What then happens? Menzgold may want to return gold brought to them back to the customers for them to sell elsewhere for their monies. This is where customers would be handed with Aurum Utalium.

Per customers’ contract signed with Menzgold, the gold presented by clients to be traded on the Gold Vault Market is Aurum Utalium. Online resources have linked Aurum Utalium to fake gold though the term has been used in several legitimate transactions. Customers would be left with no option that to accept the Aurum Utalium they presented for trading.

Many other customers wish to continue business with Menzgold to enjoy the great returns on investment but Menzgold is in no position to pay dividends while on suspension and SEC also doesn’t have timelines on the suspension.

A great number of people are expected to receive 75% of their invested Aurum Utalium and Ghanaians cannot wait to see how this type of gold looks like and its value.