Hundreds of customers have their monies locked up in Menzgold, after the Securities and Exchange Commission (SEC) directed the company to suspend admitting new customers for trading without appropriate licenses.

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Director of Business Operations at Dalex Finance, Joe Jackson

According to Jackson, the the celebrities used their influence to give credibility to the activities of Menzgold.

His comments come after the police issued a bench warrant for the arrest of the CEO of Menzgold, Nana Appiah Mensah, for defrauding by false pretense.

“In terms of holding people accountable, I think the people who should be held most responsible are all those so-called celebrities, people of responsible influence and give credibility to this scheme,” he said on 3news.

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Hold celebs accountable for misleading people to invest in Menzgold- Financial analyst

Celebrities such as Becca, Jocelyn Dumas, Sarkodie, Shatta Wale, Stonebwoy, Jackie Appiah, and Okyeame Kwame appeared in Menzgold Ghana Limited adverts endorsing the company. on Wednesday that musician Becca has deleted all photos she took with the CEO of Menzgold. She has also reportedly unfollowed Nana Appiah on social media.