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YEN.com.gh has learned that the Economic and Organised Crime Office (EOCO) has arrested some officials of Payboy Company Limited.
Payboy Company Limited was the company selected by Menzgold Ghana Limited to settle debts owed its customers.
Information available shows that Payboy has no license from either the Bank of Ghana or the Securities and Exchange Commission (SEC) to operate.
READ ALSO: Menzgold details plan to pay customers in shortest possible time
Per a report by pulse.com.gh, EOCO, therefore, admonished Ghanaians to be circumspect when dealing with companies or individuals if it involves financial commitments.
YEN.com.gh earlier reported that, in appointing Payboy, Menzgold released a statement, saying: “we’re happy to introduce PAYBOY COMPANY LIMITED, a digital payments marketing and promotions company, headquartered at No. 34 Nii Ako Nortei Street, Blohum Road, Dzorwulu, Accra, as the appointed third party entity with the capacity to negotiate ‘Debt Settlement Agreements’ and to facilitate payments of same, in our committed resolve to ensure the eventual full debts settlements by Menzgold within the shortest possible time.”
Information available shows that over 10,000 Menzgold customers who invested in gold collectibles with a subsidiary of the firm in a scheme that promised up to 10% monthly returns are still not sure when their investments would be paid to them as all efforts over the past almost two years have proven futile.
READ ALSO: Bola Ray puts his lavish living room on display as he celebrates wife's birthday
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