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Menzgold Announces Validation For Payment


Defunct gold dealership firm Menzgold Company Limited has announced a schedule for payment preceding a call on its customers to validate their documents.

A statement by the gold collectible firm said the document validation period will begin on October 28, 2019 and end on November 28, 2019.

Below of the full statement: 

‘NAM 1’s wahala’

The woes of NAM1 has seen him in various legal battles since the last quarter of 2018 when the Securities and Exchange Commission (SEC) descended on his gold dealership company and ordered him to stop taking up new clients, a move that supposedly hindered cash-flow and affected the company’s operation.

NAM1 is still facing 13 counts of defrauding by false pretences, money laundering, abetment and carrying on deposit-taking business without licence contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).

He has been accused of defrauding his customers of about GHc1.68 billion.

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