Troubled gold dealership, Menzgold, will from next week begin verifying documents from customers as part of an elaborate process to settle their locked-up funds.
According to a statement from the firm, the validation of documentations regarding claims of the customers will start on October 28 from 9 am to 4 pm each day.
The validation process ends on November 28, 2019.
“All customers are expected to visit any of the respective outlets within the hours of 9:00 am to 4:00 pm each working day and submit photocopies of their Gold Trading Agreement, Receipt of Gold Traded Purchase, Gold Trading Commission Receipt, Valid National ID Copy and Evidence of Gold Re-trade(s) and Receipts or Agreements,” the statement urged customers.
After months of battle with government agencies over the legality of its operations, the Economic and Organised Crime Office (EOCO) secured a court order to freeze the assets of Menzgold and other related businesses belonging to Nana Appiah Mensah, CEO of the company.
Mr Appiah Mensah was detained in the United Arab Emirates (UAE) in December 2018 for allegedly defrauding a business partner after being declared a wanted man by a Circuit Court in Accra.
The detention in Dubai followed similar accusations by some 60,000 people who invested in his Menzgold firm. Many experts have described the firm as a Ponzi scheme.
In July this year, Nana Appiah Mensah returned home after it was reported that he had won the case and was released from detention.
His return to Ghana was heralded as a major relief for customers who invested huge sums of money in his gold trading business after it was alleged that he was awarded some $39 million after the Dubai litigation.
Mr Appiah Mensah was arraigned before court for fraud upon his return to Ghana.
His customers, thousands of them, have been pushing for government intervention to stop the court proceedings over the fraud allegations.
They believe the court process will scuttle Menzgold’s efforts to pay their locked up investments.
The aggrieved Menzgold customers believe that a special committee made up of customers, government officials and Menzgold management will bring finality to the matter.
Read the full statement, released on Wednesday, October 23, on the schedule for payment below.