General News of Saturday, 17 November 2018
People who invested with Menzgold Company Limited did so out of greed, the Member of Parliament for Assin Central, Kennedy Agyapong, has said.
According to him, most customers knew that the returns on offer were unreal yet went ahead to invest with the gold dealership firm.
This, the maverick lawmaker said, makes all persons who invested their monies with the company greedy.
“All those who invested in Menzgold are greedy people, how can you invest in financial institutions offering more than the rate normal banks will offer…?” Mr. Agyapong said on Adom TV.
The Assin Central MP also called for the assets of Menzgold CEO Nana Appiah Mensah to be confiscated and sold to defray the debts of the customers.
In recent months, Menzgold, which offers very high returns to customers, has come under the spotlight following several inconclusive tussles with the Bank of Ghana (BoG), the Minerals Commission and the Securities and Exchange Commission (SEC).
The Central Bank and Minerals Commission maintain that the company has been taking deposits and locally selling gold despite not having the requisite licence to do.
However, the seriousness of the issue was confirmed in September when SEC directed Menzgold to shut down its gold trading activities.
Currently, the operations of the company remain closed to the public, with several customers agitating for a refund of their investments.