A customer of troubled gold dealership firm, Menzgold, has sued the company for breach of contract and misrepresentation.

The customer said to be a reverend minister is demanding the payment of his accrued interest and GHC24,000 principal investments which he allegedly deposited with Menzgold on April 20, 2018.

Rev Joseph Appiah Odei in his writ said he deposited 12 pounds of gold estimated at Ghc24,000 for 12 months, and paid a non-refundable commission of Ghc1,200 to Menzgold.

He’s the first aggrieved Menzgold customer to take such an action, although several others have demonstrated and only threatened to sue.

Meanwhile, a group calling itself ‘Aggrieved Customers of Menzgold, has given the company a four-week ultimatum to pay 50% principal investments of all customers.

The group made this known at a press conference to drum home their demands following the refusal of the company to honor contract obligations of paying them their investment returns.

Menzgold has not been able to pay matured returns to its investors since the Security and Exchanges Commission (SEC) ordered it to suspend only its gold vault operations.

The company came up with a payment schedule to pay its clients, but the said payments have been postponed several times in the last few weeks.

The delayed payments continue to stir up anger among Menzgold customers, as they have vowed to use every means possible to retrieve their investments.


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