Menzgold<\/figcaption><\/figure>\n<\/div>\nAn Accra High Court has ordered the troubled gold dealership, Menzgold Ghana Limited, to refund GH\u00a22,664,000 owed 58 military personnel.<\/p>\n
State-owned Daily Graphic newspaper reports that Her Ladyship, Mrs Angelina Mensah-Homiah ruled on November 4, 2019, that investors will receive their monies at prevailing interest rates and not what the gold dealership promised.<\/p>\n
The
\n Judge \u201crefused to enforce the contractual interest at the rate
\ncontained in the respective agreements between Menzgold and the
\nrespective plaintiffs because it had been found to be a Ponzi Scheme in a
\n previous suit. <\/p>\n
\u201cThe
\n plaintiffs will instead be paid interest at the prevailing commercial
\nbank rate from the date of judgement until the date of final payment,\u201d
\nthe newspaper reported on Friday.<\/p>\n
The investors\u00a0include soldiers from the Ghana Navy, the Ghana Air Force and the Ghana Army.<\/p>\n
In a writ of summons issued on December 12, 2018, the soldiers had prayed the High Court to order a refund of their money.<\/p>\n
The sums which are their principal investments with Menzgold ranged between GH\u00a218,000 and GH\u00a2244,000.<\/p>\n
\u201cOne of the plaintiffs, who spoke to Graphic Online on condition of anonymity, disclosed that Menzgold had been served with the judgement and he was awaiting a refund of his investment,\u201d the newspaper said.<\/p>\n
Meanwhile, hundreds of
\nMenzgold have been massing\u00a0up at the Kumasi and Accra offices of the
\nfirm to validate their claims documents.<\/p>\n
Menzgold said in a statement\u00a0<\/strong>last
\n week that it will begin verifying claim documents from customers as
\npart of an elaborate process to settle their locked-up funds.<\/p>\nAccording to the statement from the firm, the validation of documents
\n regarding claims of the customers will start on October 28 from 9 am to
\n 4 pm each day.<\/p>\n
The validation process ends on November 28, 2019.<\/p>\n
\u201cAll customers are expected to visit any of the respective outlets within the hours of 9:00 am to 4:00 pm each working day and submit photocopies of their Gold Trading Agreement, Receipt of Gold Traded Purchase, Gold Trading Commission Receipt, Valid National ID Copy and Evidence of Gold Re-trade(s) and Receipts or Agreements,\u201d the statement urged customers.<\/p>\n
Source: Myjoyonline.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Menzgold An Accra High Court has ordered the troubled gold dealership, Menzgold Ghana Limited, to refund GH\u00a22,664,000 owed 58 military personnel. State-owned Daily Graphic newspaper reports that Her Ladyship, Mrs Angelina Mensah-Homiah ruled on November 4, 2019, that investors will receive their monies at prevailing interest rates and not what the gold dealership promised. The […]<\/p>\n","protected":false},"author":1,"featured_media":740903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-740902","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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![\"\"](\"https:\/\/ghanamma.com\/wp-content\/uploads\/2019\/08\/menzgold-customers-besiege-dzorwulu-office.jpg\" "\\"Menzgold")