Menzgold customers demo in Kumasi over deposits

Customers of Menzgold converge near the office to demand for their monies

Customers of Menzgold converge near the office to demand for their monies

Aggrieved customers of Menzgold Company Limited hit the streets of Kumasi metropolis calling on the government to intervene to retrieve their monies.

Yesterday’s demonstration was quite a scene as the customers, numbering about 150, gathered at the premises of the office of the company at Amakom and nearly set the building ablaze, but the police arrived on time to stop them.

The customers then resorted to burning of car tyres among others in front of the office building to register their anger and frustration which caused a heavy traffic jam at the Amakom traffic light in the early hours of the day.

They threatened to match to the Manhyia Palace, the seat of the Asantehene, Otumfuo Osei Tutu II to call him to also intervene.

It is recalled that a Kumasi circuit court has ordered the auction of the property of Menzgold Limited in the Kumasi metropolis.

The property is to be auctioned if the company failed to settle the debts of its clients by January 16, 2019.

According to the writ “the property of the said defendant  (Menzgold ) having been seized in execution under writ, dated December 3,2018, will be sold by public auction on December 16,2019 at 10am unless the said decree shall  sooner satisfied”.

The property includes movable and immovable ones at Amakom and Patasi, both in the Kumasi metropolis.

It followed a suit filed by one of the customers of the company, Henry Darko.

Dated December 11, 2018 the suit, numbered A2/47/2019, prohibits all persons from receiving the said property by purchase, gift or otherwise.

According to the Bank of Ghana, Menzgold was engaging in banking activities and cautioned the company to halt such activities but all have fallen on its deaf ears.

Several clients of the company have petitioned law courts to retrieve their monies.

Some angry customers of company hit the streets on November 27, 2018, to protest over their monies which have been locked up after Menzgold was ordered to stop its operations.

Since then, Menzgold have had difficulties in paying its numerous customers the value on their gold deposits, as well as their entire investments.

FROM KINGSLEY E.HOPE, KUMASI

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