Menzgold Releases Payment List And New Payment Model For Repayment Of Its Customers

Menzgold Ghana Limited is a gold dealing company founded by Nana Appiah Mensah but was later closed down in 2018 due to its fraudulent activities and Ponzi scheme which promised customers an average of 7 to 10 percent monthly returns on their investments.

This Ponzi scheme made a lot of their customer’s investments lock up after the company was closed down.

Menzgold Releases Payment List And New Payment Model For Repayment Of Its Customers
Menzgold founder

The problems of Menzgold Ghana Limited started after the Securities and Exchange Commission directed it to suspend its gold trading operations on the 7th of September 2018.

The company later announced in October this year, the beginning of payment of their customers, which was scheduled to commence from 20th December to 30th June 2022.

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It also announced that the payment model will also be changed as advised by the police. The payment model would be changed from cash to electronic mode. This model is to enhance easy and fast payment of customers.

A statement was issued by the company, dated 19th December 2021, stated: “With due regards to the above basis, respect for authority and as law-abiding, patriotic citizens, our company consequently shall proceed to achieve the objective of the same payment by resorting to direct bank deposits, aw we happily commence our final payment phase spanning from December 20, 2021, to June 30, 2022”.

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Customers who have their monies locked up are to assemble at a designated office to receive their payments. The released statement which was issued by Menzgold Ghana Limited also includes the lists of vetted customers with whom the payment will commence. This list contains the name and account numbers of 181 customers who had their monies locked up with the company.

Customers would also be contacted by the company’s authorized representative through a phone call with a dedicated number. This number would be made public for creditors to provide their bank details so payment would commence successfully.

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