A group of 100 retired and active police officers at the Kasoa Divisional Police Command in the Central Region have filed a suit at the Accra High Court to compel Gold-dealership firm Menzgold to release their locked-up investments.
According to the group, several attempts to retrieve their monies from Menzgold have yielded no result hence the lawsuit.
In an interview with Accra FM some of the aggrieved officers blamed the government for stopping the operations of Menzgold without retrieving their cash for them.
“We have been at Kasoa for long. We were here when Menzgold started and have been operating for about five years and they have not had any problems because no one reported them to the police station and this gave us confidence. A lot of us went to invest there [at Menzgold] and all of a sudden, we hear Menzgold operations have been stopped. All we want is our monies, we are very angry and frustrated because all means to retrieve the funds have proved futile. We have therefore engaged a lawyer and have filed a write at the Accra High Court to demand our money,” Leader of the group, Chief Inspector (Rtd) Samson Addai said on Wednesday, 19 December 2018.
Another aggrieved retired cop, Chief Inspector Alexander Salifu, indicated that the operations of Menzgold were moving smoothly until the recent intervention.
“Everything was moving alright and the man (CEO of Menzgold) was paying us. It was not that the man was defrauding us or something like that. He was doing his work diligently, then all of a sudden the government decided that he should stop operating so for about four months now we have not been getting our monthly values and that is why we have taken the company to court because we are suffering,” he lamented.
Menzgold has been unable to pay its clients their dividends due to an ongoing battle with the Security and Exchanges Commission and the Bank of Ghana 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.