Menzgold vows to stop sale of assets after court order

Menzgold CEO, Nana Appiah Mensah

The order comes after an aggrieved customer, Henry Darko, sued the gold firm for its inability to pay his principal investments and extra value.

In its ruling, the court instructed the company not to sell or gift out the property. The court further warned the general public not to purchase or receive the property as a gift.

The court has also posted a notice to this effect on the premises of the gold dealership company in Amakom.

Reacting to the court order, the Communications Director of the company, Nii Armah Amarteifio, in an interview with Citi FM explained that the legal team of the company will find alternative measures of resolving the situation to avoid an auction.

“I don’t even think that this will at the end of the day get to the stage where we have to auction the properties as the judge has ruled," he said.

"Our lawyers will sit down and go into it to see how best to go about it so we don’t get to the point where we have to auction those properties in Kumasi.”

Menzgold Ghana Limited has been in the news for the past months. The company is dealing with regulatory bodies over their legality or otherwise and also facing suits from their customers who have not received their principal money or extra value.

Recently a group of aggrieved customers demonstrated and called on the government to help them get their money. But the government has said that it will not repay the money they lost because the general public was cautioned not to deposit money with the company.

According to the affected officers they went to court because all attempts to retrieve their monies from Menzgold have proven futile.

The Leader of the group, Samson Addai, said they blame the government for their loss because it failed to regulate the activities of the company.

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