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Kasoa Cops Take Menzgold to Court

In a bid to retrieve their locked-up investments, some aggrieved retired and active police officers at the Kasoa Divisional Police Command in the Central Region have filed a writ at the Accra High Court against gold dealership company Menzgold Ghana Limited.

According to the police officers who are about 100 in number, attempts to redeem their investments from Menzgold have yielded no result, hence the lawsuit.

In an interview with Accra100.5FM, some of the aggrieved security men said they will use every legal means to retrieve their locked-up cash.

Chief Superintendent Samson Adei Mensah (RTD) said: “We live in Kasoa and we’ve been investing with Menzgold for the past five years without any problem. We suddenly heard the government has stopped them from operating and, so, we need our monies back from Menzgold.

“We’ve lawyers and we have sued the company. Menzgold has deceived us for long and we can’t be patient anymore. The government says we are greedy and didn’t do due diligence before doing business with Menzgold, so, we are working on our own to get our investments back”.

For his part, Chief Inspector Alexander Salifu (RTD) said: “Our case is simple, we’ve been with Menzgold for some time now and everything was moving all right. The company was paying us, it is not as if the company was defrauding us, then all of a sudden, the government decided that they should stop operating, so, for about five months now, we’ve not received our monthly value and that is why we have taken a lawyer to take legal action against Menzgold. We need our money because we are suffering, our children can’t go to school”.

Menzgold has been unable to pay its clients their dividends and principal investments due to an ongoing battle with the Securities and Exchange Commission (SEC) and the Bank of Ghana (BoG) over its operations. While the state institutions say the company has not been licensed to take deposits, Menzgold insists it does not take deposits and does not answer to the two institutions.

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