General News of Thursday, 29 November 2018
Embattled Chief Executive Officer of gold dealership company Menzgold, Nana Appiah Mensah has questioned why government is whipping up public sentiment against him and tainting his image when all he did was to contribute to the economy of the country.
Venting his anger in a post on his Instagram page on Thursday morning he quizzed,
“Somewhere in africa: A purported fraudulent business has been paying income and corporate taxes for gov’t, Salaries and SNNIT for staff, 5% & now 3% royalties on over $100 million dollars gold bars exports for the Minerals Commission, discharged contractual obligations fully to thousands of clients and have embarked on various Corporate Social responsibilities for 5 years successfully with no objection.#SeektheFacts.”
The business mogul who sounded betrayed by the turn of events indicated that he is even more shocked because he has been left to fight the ‘monstrous’ battle with the Securities and Exchanges Commission (SEC) and the Bank of Ghana (BoG) alone when he needed his “friends and associates” most.
“At the end, what I would live with would be the shock at the silence of my friends and associates and not the temporary slay of my foes.#ValuesAdded #LifeLessons,” a portion of his post read.
On September 12, 2018, SEC asked Menzgold to suspend its gold trading operations with the public.
According to the SEC, Menzgold has been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.
This, the SEC said, is in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”