Gov’t Won’t Pay Menzgold Customers A Dime – Fred Green

A member of the ruling New Patritic Party (NPP) co0mmunication team, Frederick Green has disclosed that government will not use tax payers’ money to pay customers of defunct Menzgold Ghana Limited for their locked up funds.

Mr Green’s comments follow a demonstration by aggrieved Menzgold customers in Kumasi over their locked cash with the financial company last Tuesday.

Some of the clients said their lifetime savings had been locked since the Securities and Exchange Commission ordered the company to halt its operations in Sepetember 2018.

Some disgruntled customers who had blocked roads in protest accused the government of being in bed with the CEO of the financial company, Nana Appiah Mensah (NAM 1) while others threatened to vote against the NPP in 2020 if President Nana Akufo-Addo fails to retrieve their monies for them.

But speaking on Ete Sen  on Radio XYZ 93.1 hosted by Kwame Minkah, he observed that the gold buying firm was not given license to take deposits from clients and give them interest, hence if the company has collapsed the customers will have to use the right channel to get their funds back.

“The government will not use state funds to pay the customers if Menzgold fails to get them their monies,” he disclosed and quizzed “Did they inform the president when they were going to invest with the company?”

He said the Bank of Ghana warned the clients many times to stop depositing funds at the company since it was not authorised to receive monies from clients in that manner but they failed to heed to the advice.

CID Chases NAM 1

The Criminal Investigations Department (CID) of the Ghana Police Service on Thursday, January 9, 2019 declared NAM 1 a wanted man over the operations of his company.

He has been declared wanted for defrauding by false pretence among other charges.

According to Maame Yaa Tiwaa Addo-Danquah, the Director-General of CID, her outfit is very sure NAM 1 will be arrested.

“It is only NAM 1 that we are looking for. We had already obtained the warrant of arrest for two other directors [of Menzgold],” the CID Director said in an interview with Joy News on Wednesday.

The Police also revealed that they have requested for a Red Notice from the International Police (INTERPOL) making NAM 1 a wanted man in 194 countries.

“We started this investigation somewhere in December and we have gotten to the level where we are ready to issue an arrest. That is why when we got to know that NAM 1 was not in the country, we initiated the processes of informing INTERPOL so that the 194-member states will help us arrest him,” Madam Addo-Danquah added.


Source: Ghana/