Menzgold Lawyers Writes To SEC; Appeals For A Meeting

Lawyers of gold trading company, Menzgold have requested a meeting with the Securities and Exchanges Commission (SEC) over the shut-down of operations.

According to them, the meeting is in furtherance of difficulties associated with its operations following an immediate shutdown directive by SEC.

“In the interim period, we write to respectfully request for a meeting within the coming week to resolve this impasse. It is important that this is done with some alacrity to ensure that the affairs of our Client and its Customers are kept in proper stead,” the letter signed by Kwame Boafo Akufo said.

Menzgold reiterated the point that they are not engaged in any capital market activity.

Management of Menzgold has announced Thursday morning that it has temporarily halted its collectibles and any new business related to its gold vault market with immediate effect.

According to the company, the halt of what is also called extra value payments takes effect from today Thursday, September 13 and will be in place for six days, "by which time we believe all pending issues related to the Gold Vault Market Product would have been ironed out."

The company is hopeful the halt would not go beyond September 19, 2018.

"This decision, though very unfavourable to us has been informed by our commitment to the rule of law, absolute respect to state agents, agencies and total submission to the state," the press release, published below, stated.