Tony Aubynn warns gov't of a "national funeral" if it messes up Menzgold issue

Tony Aubynn warns gov't of a "national funeral" if it messes up Menzgold issue

A former Chief Executive Officer of the Minerals Commission, Dr Tony Aubynn, has asked the government to approach the developing Menzgold-SEC matter with the needed care so as not to endanger the investments of Ghanaians.

Dr. Tony Aubynn, has cautioned government against dealing with Menzgold in a rash manner. He believes the investments of Ghanaians are at stake in any deliberation.

Menzgold, owned by, Nana Appiah Mensah, was earlier this week instructed by the Security and Exchanges Commission (SEC) to shut down their investments in gold.

After an initial refusal, Menzgold closed with a promise to their customers to sort things out in a week. They expressed disappointment with the SEC for "leaking" conclusions reached in the privacy of boardrooms.

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But speaking to Joy News, the former Minerals Commission boss said that government needed to take care in order not to ruin matters.

Dr Aubynn is quoted as saying: "I tell you if caution is not taken, we are going to have a national funeral. Maybe the biggest funeral will happen in my hometown Tarkwa."

According to Dr Aubynn, there were among the clients of Menzgold, soldiers, bankers and other even police officers. He spoke of personally knowing someone who invested GHC 500,000.

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In the business module of the company, clients buy gold collectibles and then deposit them with the company.

A monthly guaranteed return of between 7% to 12% is given depending on how much was invested in the gold purchase.

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Source: Yen

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