In a statement from EOCO on Friday said Payboy Company Limited does not have the license from either the Bank of Ghana or the Securities and Exchange Commission to perform the services it purports to offer.
ADVERTISEMENT
EOCO arrests Payboy officials after appointment by Menzgold to pay its customers
The Economic and Organised Crime Office (EOCO) has arrested the officials of digital payment marketing and promotions firm, Payboy following their recent appointment by controversial gold dealership firm Menzgold to pay its customers.
Menzgold to begin validating customers ahead of payment
Recommended articles
“The General Public is advised to be circumspect when dealing with companies or individuals if it involves financial commitments,” EOCO cautioned.
“Investigations are ongoing,” it added.
Menzgold said on May 19 that it had appointed Payboy to facilitate payments with its clients.
ADVERTISEMENT
Over 10,000 Menzgold customers who invested in gold collectibles with a subsidiary of the firm in a scheme that promised up to 10% monthly returns are still not sure when their investments would be paid to them as all efforts over the past almost two years have proven futile.
EOCO arrests Payboy officials after appointment by Menzgold to pay its customers
EOCO arrests Payboy officials after appointment by Menzgold to pay its customers
Pulse Ghana
The SEC ordered a shut-down of Menzgold's operations after investigations revealed they were taking cash deposits illegally.
Since September 2018, clients’ monies have been locked-up.
ADVERTISEMENT
Though the SEC says the total sum locked up is unknown, the state began prosecuting CEO of Menzgold, Nana Appiah Mensah for defrauding clients to the tune of GH¢1.68 billion.
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
75-year-old woman allegedly sets ablaze sleeping son, daughter-in-law and grandchild
Akufo-Addo is the Nebuchadnezzer of our time – Odike
3 Ghanaians named in Forbes 2023 Most Influential African Women list
Ghana spent over GHS5 billion on ‘Free SHS’ from 2017 to 2021 – Education Minister
Mahama jabs Nana Addo over appointment of political activists as Electoral Commissioners
Ghana needs to adopt a public funding system for viable political parties – Mahama
ECG urged to target Supreme Court building and Jubilee House to recover GH¢5 billion debt
‘I’ve finished my earthly ministry’ – 40-year-old pastor says it’s time to die
