The Securities and Exchange Commission (SEC) has described as baseless claims that they masterminded the collapse of gold dealership firm, Menzgold Ghana Limited.
The commission has stated that the Nana Appiah Mensah owned business were operating illegally as they did not have the necessary documents to operate in trading of gold collectables.
According to the Director-General of SEC, Rev. Dr. Daniel Ogbarmey Tetteh, it is unfair to accuse his outfit of collapsing Menzgold.
“I don’t think anyone will be right in saying that SEC was responsible for the collapse. If the model itself wasn’t viable it was meant to happen and it will just be someone trying to look for someone to wear the cap.
Anyone who says that SEC was responsible for the collapse of Menzgold, I think is being a bit disingenuous,” he stated.
Detailing why Menzgold couldn’t survive till the end of time, he mentioned that there was something so wrong with the modus operadi of the gold company which caused its shut down by SEC.
As it stands, Economic and Organised Crime Organisation (EOCO), has frozen the properties of Menzgold and its associated companies.
Menzgold is holding up the investments of thousands of customers, who have since September, last year, been unable to access both their interests and principal.
Source : Browngh.com