This pronouncement comes in the wake of the numerous law suits that have been filed against the company in recent months.

This week, 100 active and former police officers at the Kasoa Divisional Police Command in the Central Region filed a writ at the Accra High Court against Gold dealership Company Menzgold, in a bid to retrieve their locked up investments.

The group said: “We don’t want to take the law into our hands, that is why we have engaged a lawyer to retrieve our money for us. So, we have filed a write at the Accra High Court to demand our money. We are not saying government should pay, but rather it should force Menzgold to give us our cash”.

The circuit court in Kumasi ruled that properties of the firm in Amakom, all personal properties in the office of Menzgold ltd in Amakom, all personal properties in Menzgold office at Patase, all in the Kumasi be sold at a public auction.

Nana Aappiah-Mensah, CEO, MenzGold Ghana Limited

Recently, some staff members of the company  accused the management members of living extravagant and profligate lifestyles notwithstanding the company’s woes and difficulty to clear investments of customers locked up with the firm.

In a press release, they said: "We also wish to inform clients that management has started selling off assets for personal gain and to also settle their close friends. We confirm the travel plans of management members outside the country. Some tried and have been deported”.