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General News Tue, 11 Dec 2018

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Maurice Ampaw cries over his family’s GHC1 million cash locked at Menzgold

Lawyer Maurice Ampaw has revealed that his investments and that of his family are locked up at Menzgold, the gold trading firm that has been shut down by the securities and exchange commission of Ghana.

The maverick legal practitioner and political critic says he’s a proud customer of Menzgold and has been investing with them in the last 4 years.

“I want everyone to officially know that lawyer Ampaw is a proud customer of MenzGold”, he revealed while flaunting documents to prove that he has his cash locked up with the gold trading company.

According to copies of the documents in possession of MyNewsGh.com, lawyer Maurice Ampaw purchased 50 pounds of Gold worth GH¢ 100,000 three times totaling GH¢ 300,000 before the company run into crises.

His cousin as well invested GH¢520,000 whiles his wife invested GH¢ 200,000, cumulatively making GH¢1,020,000 of total cash lodged with Menzgold.

Finance Minister Mr. Ken OforiAtta has described people who invested with MenzGold as ‘greedy’ who did not think before investing their money with the Gold Merchant.

This is not the first time a government official has come out to condemn people who invest with Investment Companies like this after being promised huge dividends.

Former President John Dramani Mahama made a similar statement whiles commenting on another investment company that duped Ghanaians, especially in the Brong Ahafo Region during the era of the DKM scandal which occurred under his administration.

But an aggrieved Maurice Ampaw who was speaking in an interview with Kumasi-based radio Abusua Fm MyNewsGh.com monitored indicted that there is nothing wrong with people who invested with Menzgold because nothing showed the company was not operating not think since Bank of Ghana and the Securities and Exchanges Commission (SEC) did not speak about their illegality.

According to Mr. Ampaw, he was convinced to invest after he contacted the Registrar General’s Department, and the Minerals Commission and was a customer with the gold trading hub for four years.

“I did due diligent at the Registrar general’s Department and the Minerals Commission so I was so satisfied. Therefore I increased my investment bit by bit then my confidence level increased as well”, he noted.

“I realized a company that has existed for about five years whiles it has operated under the watch of government, that was able to sponsor Premier League, who took the entertainment industry by storm, a company that could visit Asantehene with a Private jet. Somebody who has met President Nana Addo three times” nothing showed he was a fraudster.

According to him, everything showed the system and structures endorsed the man (Nana Appiah Mensah) as no one raised any objection to his line of business

Mr. Ampaw argued that, if institutions funded and mandated to ensure that every investor in the country is well licensed sat down for five years without taking any action against MenzGold, then people must be held responsible there and not the company.

Portions of text culled from mynewsgh.com

Source: GH Base

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