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General News of Thursday, 10 January 2019


We have 60 thousand clients and not 1.8 million – Menzgold

Embattled gold trading firm, Menzgold Ghana has said it has only 60 thousand customers not 1.8 million as it is being alleged in the media.

Public Relations Officer of the company, Nii Armah Amarteyfio explained that, they stop accepting new clients when the Securities and Exchange Commission (SEC) asked them to stop operations of its gold vault market over regulatory infractions.

He was reacting to claims by a private legal practitioner, Amanda Clinton that as least 1.8 million customers have their monies locked up at Menzgold.

She noted that, within that period, at least $200 million dollars were invested – the highest single investment being $6 million.

But in a rebuttal on Asempa FM’s Ekosii Sen programme Wednesday, Nii Armah Amarteyfio said the figure churned out by lawyer is factually incorrect.

He explained that, statistics available to him is far below 1.8 million and are making frantic efforts to pay the aggrieved customers.

The Menzgold PRO revealed that, about 500 of the customers have been paid and are working around the clock to pay the others some in full and other in part.

Nii Armah Amarteyfio stressed that, claims that the company has not paid a penny to its customers is false.