News

TIMELINE: The Ugly, Bad And Awful Things Things That Have Happened Since Menzgold Was Forced To Shut Its Doors

Nana Appiah Mensah

Life on the streets is damn hard, yet man ought to eat, cloth him or herself and find a place to lay their head. It is this daily struggle that makes people get on the grind and do the most.

After getting the basic needs, then comes the small luxuries we want to enjoy – just because Abraham Maslow said so.

Charley, with the economy and things getting harder to crack, boys are prepared to do whatever to get going. Illegal stuff to legal stuff – nothing is out of reach once there will be a return.

That is why Menzgold and its promise of very lucrative returns were so appealing, as it turns out, almost all their customers were very satisfied with their work, because the customers are actually the ones fighting the government to allow Menzgold to operate.

September 7, 2018: The Securities and Exchange Commission ordered Menzgold to shut down immediately.  According to the SEC, interactions with representatives of Menzgold confirmed to SEC the view that the aspect of Menzgold’s business which involves purchase and deposit of gold collectables and guaranteed returns is a capital market activity under Act 929 and Menzgold doesn’t have a valid license issued by SEC which contravenes the law.

See Also: SEC orders Menzgold to shut down Trading Immediately

The SEC stopped them from advertising and issuing new contracts to investors whom the SEC believed were being misinformed by Menzgold.

View this post on Instagram

Attention‼️Menzgold is still in business! Pls ignore all misleading headlines!! @mn_appiah @menzgoldgh

A post shared by James Gardiner (@jamesgardinergh) on

Initially, Menzgold wanted to prove stubborn but they eventually yielded and shut its doors. It’s still shut with people believing that they will reopen on the 28th of September.

September 14, 2018: A group of young people who called themselves the Coalition of Concerned Youth of Ghana (COCYOGH) embarked on a demonstration exercise to get government and the SEC to allow Menzgold to resume operations.

https://twitter.com/KuulPeeps/status/1040568559322181632

Their demonstration was part of the #JusticeForMenzgold online campaign that saw celebrities – most of whom have been signed to the Menzgold entertainment arm, Xylofon, post the hashtag on social media – effectively to get their fans to support Menzgold in such trying times of the gold dealership.

View this post on Instagram

#iStandByMenzgold Ghana Must Prosper.. @menzgoldgh is For Ghana By A Ghanaian And benefits Ghanaians.. 🇬🇭

A post shared by STONEGOD (@stonebwoyb) on

https://twitter.com/bobskinnygh/status/1039959885151125504

September 24, 2018: Ibrah found his way into the Menzgold conversation when he said he would commit suicide if Menzgold is able to open its doors on September, 28 – we don’t what his new wife would say about this.

See Also: PHOTOS: Meet Dija, The Girl Who Ibrah The Young Millionaire Secretly Married

Apparently, Ibrah has been trying for since last year to meet Nana Appiah Mensah but he keeps ignoring Ibrah.

Nana Appiah Mensah shared a screenshot of WhatsApp conversations on Instagram.

September 24, 2018: Joy News released a video report filed by Israel Laryea from London looking into the operations of Menzgold. That report suggested that Menzgold London is a far cry from the Menzgold we know in Ghana. They are not engaged in the brisk business of selling gold as they do here in Ghana.

See Also: Menzgold Reportedly Has No Operations In London – At Least Not The Way We Think It Does

September 25, 2018: Nana Appiah Mensah is known for his comebacks and moving to people who attack his business. He has moved to the Bank of Ghana a countless number of times and Israel Laryea should have prepared himself for this.

This morning, Nana Appiah Mensah took to Instagram to dress down Israel Laryea for his report. He called Isreal’s report an “evil smear campaign agenda”.

See Also: Nana Appiah Mensah Disses Isreal Laryea For His Report On Menzgold London

He even celebrated Israel Laryea’s “stupidity and retarded mindedness”.

September 25, 2018: Israel Laryea also responded to Nana Appiah Mensah’s attack by advising him to focus on resolving the issue Menzgold is facing instead of attacking him for doing his job as a journalist.

September 25, 2018: Nana Appiah Mensah also hit back and told Israel Laryea he is focused and that there will be a resolution to the Menzgold issue soon.

September 27, 2018: Menzgold filed a suit at the Supreme Court suing the Bank of Ghana and the Securities and Exchange Commission for unfairly interfering in its business.

See Also: Read The Entire 12-Page Menzgold Suit Against The Bank Of Ghana And SEC Here

Menzgold wants the court to stop the two state institutions from

September 28, 2018: After announcing a day before, Menzgold started paying dividends to its customers. Earlier in the day, hundred of its customers besieged the various Menzgold offices to retrieve their money.

See Also: What Is Ibrah Going To Do As Menzgold Begins Payment Of Dividend Today?

Meanwhile, the company has released a schedule for the payment based on the maturity dates of the various investments made by its customers.

Between September and now, the Menzgold customers have been demonstrating and courting media attention in an attempt to keep the conversation of retrieving their money ongoing.

Reports of Nana Appiah Mensah fleeing to South Africa to escape from angry Menzgold customers.

January 9: The President Nana Akufo-Addo issued a bench warrant for the arrest of Nana Appiah Mensah, his wife Rose Tetteh and his sister Benedicta Mensah.

See Also: An Arrest Warrant Has Been Issued For Nana Appiah Mensah, His Wife And Sister

Also, all the police have also been ordered to arrest all the directors of Menzgold.

See Also: Police Denies Gabby Otchere-Darko’s Claim That Nana Appiah Mensah Was Arrested

This comes after the police denied reports that they arrested Nana Appiah Mensah last year.

This is still unfolding, we will update this post as and when something new comes up.

If you have a story you want to share with Kuulpeeps and the world, please do hit us up on Facebook, Twitter, Instagram

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The Latest

Kuulpeeps is a social news, lifestyle and entertainment brand for the young Ghanaian. Kuulpeeps is leading millennials through the journey of discovering news, engaging with content and interacting with one another through the use of tailored content platforms, social media executions and new media.

What started primarily as a campus focused site is growing into a media brand focused on satisfying the curiosity of young people across different geographic locations and lifestyles. Kuulpeeps seeks to be the leading content brand for youth interaction in Ghana and beyond.

Copyright © 2018 Kuulpeeps.

To Top