A customer of troubled gold dealership firm, Menzgold, has sued the firm for breach of contract and misrepresentation.
The customer said to be a Reverend Minister is demanding the payment of his accrued interest and GHC 24,000 principal investments which he allegedly deposited with Menzgold on April 20, 2018.
Rev. Joseph Appiah Odei in his writ said he deposited 12 pounds of gold estimated at Ghc24,000 for 12 months, and paid a non-refundable commission of Ghc1,200 to Menzgold.
He’s the first aggrived Menzgold customer to take such an action, although several others have demonstrated and only threatened to sue.
Rev. Odei in his writ wants his investments recovered with interests.
Background
Menzgold has not been able to pay matured returns to its investors since the Security and Exchanges Commission (SEC) ordered it to suspend.The company came up with a payment schedule to pay its clients, but the said payments have been postponed several times in the last few weeks.
The delayed payments continue to stir up anger among Menzgold customers, as they have vowed to use every means possible to retrieve their investments.
‘We may pay in 90-days if you terminate your transaction’ – Menzgold
Menzgold had earlier indicated in a statement that customers who wish to terminate their investment transaction with the company will receive a full payment of their investment in 90 days if the ongoing misunderstanding with statutory institutions is resolved.
“Should Menzgold succeed in reaching an amicable resolution with the authorities, customers wishing to continue trading with Menzgold are free to exercise the option of continuing to trade with us. Similarly, customers wishing to terminate their business with Menzgold are free to do so and should be rest assured of their full payment in 90-days as stipulated…” the statement said.
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By: Hanson Agyemang/citinewsroom.com/Ghana
The post Pastor sues Menzgold over delayed payments appeared first on Citi Newsroom.
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