Menzgold cannot pay all investors – Abronye DC makes revelations

The outspoken NPP communicator, Abronye DC has joined the ongoing Menzgold and the Securities and Exchange Commission’s brouhaha. According to Abronye, Bank of Ghana and SEC couldn’t just sit and watch Nana Appiah Mensah use his Menzgold abuse the system as he pleases.

The Brong Ahafo Regional NPP executive explained that Menzgold was not probably trading in Gold as he informed his investors since nothing pointed to the fact that they were dealing in Gold.

Again, he revealed that even the license given to Menzgold to buy gold from small-scale miners and export abroad by the Minerals Commission expired over a year ago and they have refused to renew it despite being warned several times.

Abronye DC rubbished the claims by some people that SEC just wanted to show Menzgold “Where Power Lies”. According to him, SEC realized Menzgold investments received was more than the deposits they had. Meaning, if all investors decide to go for their money, not all will get it.

The Securities and Exchange Commission had no choice but to clamp down on them to ensure investors money are safe and another “DKM” won’t be repeated

Abronye DC stated that 52 people died when DKM collapsed and the NPP government will never sit down and watch anybody break the law as he wants.