Lawyer reveals the number of Ghanaians who invested in Menzgold

A private legal practitioner representing several customers of the embattled gold dealership firm, Menzgold has hinted the number of clients Menzgold had before its crisis began.

Speaking on news analysis show, Newsfile on Joy FM, Amanda Clinton disclosed that Menzgold had 1.8 million Ghanaian customers.

According to the private legal practitioner, the government cannot clear itself from the crisis that has led to more than 1 million Ghanaians having their money locked up with gold dealership firm Menzgold Ghana Limited adding that government has a duty to crack the whip on Menzgold and also facilitate retrieval of the monies.

Amanda Clinton also argued that government must lead the charge to find out everything that has happened at Menzgold since its introduction and take responsibility since the company was “unregulated” but was allowed to operate.

“Government is accountable to all the 1.8 million Ghana citizens, it is accountable because so much money was pumped into an unregulated company because it can search and seize and not spend a penny of taxpayers’ money and make a good example for the future,” she argued.

Meanwhile, Finance Minister, Ken Ofori Atta has ruled out any form of bailout for clients of Menzgold, indicating that doing so will be bailing out greed.

“It is not in the place of government to refund or get your money for you,” he said.

In related development, Deputy Minister of Finance in early November hinted that Menzgold will not be in business again in Ghana.

According to the Deputy Minister, after several cautions from the Bank of Ghana and the Security and Exchange Commission, Menzgold has not been able to produce any legitimate license to the regulators thereby making their activities in the financial sector illegal.

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