Kumasi: Court gives order to sell assets of Menzgold to settle customers

A Circuit court in Kumasi in the Ashanti Region has ordered that belongings of the troubled gold-trading firm, Menzgold Company Limited be auctioned.

The court ruled that properties of the firm in Amakom, and all personal assets in the office of Menzgold ltd in Amakom, all personal assets in Menzgold office at Patase, all in the Kumasi be sold at a public auction.
Recently staff of Menzgold alleged that the management members of living extravagant and profligate lifestyles though the company’s woes and difficulty to clear investments of customers locked up with the firm.
Our loyalty to both company and clients led to four months with no pay so as to bring an end to this crisis while they (management) live lavishly without remorse” the staff noted in a statement.
Staffs of the firm were recently asked to proceed on leave until 20 December 2018, while the recently developed online platform has also been paused.

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another statement from the staff were that management members are in secret selling off assets of the firm and keeping the earnings for themselves, with the intention of relocating outside the country to enjoy their loot.
“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”, they said.
“It is unfortunate to say that aside from certain external forces which caused this crisis, internal misappropriation is a key factor”,

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