A court injunction has impeded a planned demonstration to commemorate the second anniversary of the collapse of gold dealership company, Menzgold Ghana Limited by its customers.
The aggrieved customers had planned the convergence on Saturday to mark the passing of some 64 of their members who they say have suddenly passed since the company was shut down by government two years ago.
“It is hereby ordered that the respondents, the Coalition of Aggrieved Customers of Menzgold Ghana, Isaac Nyarko and Fred Forson are hereby restrained from the intended demonstration to commemorate two years of the collapse of Menzgold Company,” the injunction document signed by Justice of the High Court, Stephen Oppong directed.
The Coalition announced a wreath-laying ceremony in commemoration of customers who lost their lives as a result of the locking up of their investments.
Leaders of the Coalition wrote a letter to the IGP requesting for security during demonstration exercise slated for September 12, 2020.
“Since the collapse of the company, we have lost over 60 members and many have become bed-ridden due to the continued lock-up of our investment in Menzgold. It is our expectation that your outfit will provide security to help bring the programme to a successful because it will be highly-violent free. The programme is expected to last for two hours with an expected attendance of more than 200 people,” the Coalition said in a statement to the IGP.
Suspension of Menzgold activities
Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC) in 2018.
According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.
The company was however cleared to continue its “other businesses of assaying, purchasing gold from small-scale miners and export of gold.” Despite initial protests, Menzgold complied with the directive.
Two years on, the company has failed to fully pay its numerous aggrieved customers the value on their gold deposits as well as their entire investments.
Meanwhile, all Menzgold customers who did not earn dividend equivalent to their initial investment will receive their monies back if the NDC wins the 2020 polls, according to the National Youth organizer of the party.
According to George Opare Addo, the NDC will institute a probe into the Menzgold customers’ claims and pay the credible ones.
“First of all, Menzgold customers are Ghanaians and the state must care. The next NDC government will probe the claims and pay those who deserve to be paid. There are customers who did not earn anything on their capital, such people must be paid and there are those who earned enough dividend equivalent to their investment”.
