SECURITIES AND EXCHANGES COMMISSION DIRECTS MENZGOLD TO CLOSE DOWN IMMEDIATELY

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Securities and exchanges commission has directed Menzgold Ghana Company Limited to close down immediately the business of trading in gold collectibles with guaranteed returns to clients which constituents, in essence, dealing in securities with neither the necessary neither license nor closures authorized by the SEC.

According the SEC, no new contracts should be created and all advertising of the investment business with immediate effect.

In a letter to the Chief Executive Officer of Menzgold Ghana Company Limited, attention Nana Appiah Mensah, copied to the Director General, Head, Audit and Risk Management, Head, Policy Research and IT, Head, Legal and Enforcement, Head and Funds Management the deputy director general of the securities and exchanges commission, Paul Ababio said failure to comply with this directive will lead to the SEC employing other relevant measures under the law to enforce compliance.

BELOW IS THE LETTER TO MENZGOLD.

 

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