{"id":777479,"date":"2020-01-06T16:14:32","date_gmt":"2020-01-06T16:14:32","guid":{"rendered":"https:\/\/ghana-mma.com\/2020\/01\/06\/confusion-over-menzgold-cash\/"},"modified":"2020-01-06T16:14:32","modified_gmt":"2020-01-06T16:14:32","slug":"confusion-over-menzgold-cash","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/01\/06\/confusion-over-menzgold-cash\/","title":{"rendered":"Confusion Over Menzgold Cash &#8211;"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Nana Appiah Mensah<\/strong><\/p>\n<p>There appears to be confusion over disbursement<br \/>\nof funds by Menzgold Ghana to its customers.<\/p>\n<p>While management of the embattled gold<br \/>\ncollectibles firm says nearly 200 customers of the company have been paid their<br \/>\nfunds which were locked up for months, some customers have vehemently denied<br \/>\nreceiving such monies.<\/p>\n<p>The Communications Director of Menzgold Ghana,<br \/>\nNii Armah Amarteifio, had in an interview with the media claimed that the<br \/>\ncompany had started payments to its customers. He revealed that about 200<br \/>\ncustomers are part of the first batch to have been paid.<\/p>\n<p>He noted, \u201cI can confirm to you that by the grace<br \/>\nof God we commenced payment and we were able to pay 200 people today. I will<br \/>\nnot give you a range but I can tell you for a fact that as we promised our<br \/>\ncustomers that we will commence payment on the 27<sup>th<\/sup> December (that<br \/>\nis today), we have been able to do that and by the grace of God we\u2019ve been able<br \/>\nto pay about 200 people, who fall in the zero category as we indicated in our<br \/>\npress statement.\u201d<\/p>\n<p>\u201cYou will be called first; a call will be<br \/>\nplaced to you and you will be asked to confirm your bank account number and if<br \/>\nthat is done, the money is transferred into your account; that is done by the<br \/>\nthird party. The most important thing is that we are making payments to<br \/>\ncustomers and today we were able to make payments to about 200 customers,\u201d he<br \/>\nadded.<\/p>\n<p>An aggrieved customer who pleaded anonymity<br \/>\ntold the media that \u201cwe do not know which people have received their cash<br \/>\nbecause we are in a WhatsApp group and our leaders have not indicated to us that<br \/>\npayment has commenced.\u201d<\/p>\n<p>Again, one other customer said, \u201cIt is not<br \/>\ntrue; no one has sent us messages or called us to inform us about commencement of<br \/>\npayment. They claim they have started paying but none of our members has confirmed<br \/>\nthe receipt of any cash.\u201d<\/p>\n<p>Menzgold was closed down in 2018 following its<br \/>\nlegal battle with the Securities and Exchange Commission (SEC) which started in<br \/>\nSeptember 2017.<\/p>\n<p>SEC had described the deposit-taking business<br \/>\nof Menzgold as illegal and ordered it to suspend its operations.<\/p>\n<p>Despite the several challenges it has faced in<br \/>\nrecent years including the arrest and detention of its Chief Executive Officer,<br \/>\nNana Appiah Mensah, aka NAM1, in Dubai over alleged gold scam, the company pledged<br \/>\nto begin payment to customers from December 27, 2019. That was in spite of<br \/>\nopposition by some of its customers.<\/p>\n<p>It would be recalled that in a December 18,<br \/>\n2019 statement, the company had asked its lawyers to make payments to<br \/>\ncustomers.<\/p>\n<p>In the statement, it noted that \u201cclaims shall<br \/>\nbe settled in full and shall be subject to an invitation from our legal team:<br \/>\nKwame Akuffo &amp; Co. Unlimited strictly following scheduled order.\u201d<\/p>\n<p><strong>Lawyers\u2019 Position<\/strong><\/p>\n<p>But, in a response, its lawyers indicated that<br \/>\nthey did not have the \u201ccapacity\u201d to pay customers\u2019 locked up cash.<\/p>\n<p>Menzgold has approximately 4,600 customers.<\/p>\n<p> <strong>BY Melvin Tarlue <\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nana Appiah Mensah There appears to be confusion over disbursement of funds by Menzgold Ghana to its customers. While management of the embattled gold collectibles firm says nearly 200 customers of the company have been paid their funds which were locked up for months, some customers have vehemently denied receiving such monies. The Communications Director [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":730409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-777479","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Confusion Over Menzgold Cash - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/01\/06\/confusion-over-menzgold-cash\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Confusion Over Menzgold Cash - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Nana Appiah Mensah There appears to be confusion over disbursement of funds by Menzgold Ghana to its customers. While management of the embattled gold collectibles firm says nearly 200 customers of the company have been paid their funds which were locked up for months, some customers have vehemently denied receiving such monies. 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While management of the embattled gold collectibles firm says nearly 200 customers of the company have been paid their funds which were locked up for months, some customers have vehemently denied receiving such monies. 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