Confusion ensues at Menzgold Dealership at East Legon following SEC order

Confusion ensues at Menzgold Dealership at East Legon following SEC order

A crowd gathered in front and within the premises of Menzgold Gold Delearship as the company was ordered to stop gold investments and pay back investors.

It was all chaos and confusion at the Menzgold Gold Dealership at East Legon in the wake of an announcement the Securities and Exchange Commission (SEC) that the company has been instructed to cease their gold investments.

When YEN.com.gh reporters arrived at the scene, there were a lot of parked vehicles around the Delearship. Other media houses had also gotten to the scene to report on the issue.

Confusion ensues at Menzgold Dealership at East Legon following SEC order

A view of the many cars parked around the Menzgold office earlier today
Source: Original

We were initially prevented from taking photos but as perseverance would have it, we succeeded. We identified from the crest on the shirts of the young men that the security was hired from Cheetah Security.

READ ALSO: Menzgold shut down by SEC with immediate effect

The commotion in front of the offices saw the exchange of words between some individuals and pressmen. Although the issue was not clear to us, we managed to understand that it had to do with opposition to taking photos of the building.

It was the same kind of exchange the security had with our reporters when we approached to document the issue.

Earlier today, the Security and Exchanges Commission (SEC) instructed Menzgold to cease operations in gold investments.

Confusion ensues at Menzgold Dealership at East Legon following SEC order

Many went to the Menzgold to check on their investments
Source: Original

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The Commission wrote that Menzgold do not have the legal backing to conduct such a business. Analysts even fear the company may not get a license due to the suspicions on their promised return on investment.

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Source: Yen.com.gh

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