• Submit article
  • Your News
  • Advertise
  • Advertise
  • Gett Sorted
  • Your News
Friday, June 13, 2025
27 °c
Labadi
28 ° Mon
28 ° Tue
  • Login
  • Register
The New Crusading Guide Online
  • Home
  • Politics
  • News
  • Africa
  • World
  • Business
  • Lifestyle
  • Tech
  • Entertainment
  • Your News
  • More News
No Result
View All Result
  • Home
  • Politics
  • News
  • Africa
  • World
  • Business
  • Lifestyle
  • Tech
  • Entertainment
  • Your News
  • More News
No Result
View All Result
The New Crusading Guide Online
No Result
View All Result
Home Business
SEC, MENZGOLD CLASH  …But Company Insists No Cause for Alarm

SEC, MENZGOLD CLASH …But Company Insists No Cause for Alarm

News Desk by News Desk
September 13, 2018
in Business, News, Politics
Reading Time: 2 mins read
A A
0
733
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

By Frank Amponsah 

The Securities and Exchange Commission has ordered gold trading firm, Menzgold Ghana Limited, to suspend their operations with the public with immediate effect.

In a letter dated September 7, SEC said it has thoroughly investigated the activities of Menzgold and has found that, the Nana Appiah Mensah-owned firm does not have the license to trade in gold collectibles from the public.

The statement explained that interactions with representatives of Menzgold confirmed to SEC the view that the aspect of Menzgold’s business which involves purchase and deposit of gold collectibles and guaranteed returns is a capital market activity under Act 929 without a valid license issued by SEC which contravenes the law.

Related posts

One survivor after Air India crash kills hundreds

One survivor after Air India crash kills hundreds

June 12, 2025
1.5k
Assemblymember Donates Mathematical Sets, Sachet Water to BECE Candidates

Assemblymember Donates Mathematical Sets, Sachet Water to BECE Candidates

June 12, 2025
1.5k

The statement added that subsequent requests have been made by SEC to Menzgold’s lawyers to furnish SEC with specific detailed information on the operations of the firm.

 

The supply of those documents, however, does not clear Menzgold to continue the mentioned aspects of Menzgold’s business.

“That aspect poses a threat to unsuspecting and uninformed investors,” SEC noted.

SEC also ordered that no new contracts of such should be created and all advertisement on same should cease.

It added that failure to comply would force SEC to enforce the directive through alternative means.

Menzgold is, however, free to continue purchasing gold from small-scale miners and exporting same.

 

MENZGOLD

Meanwhile, The Management of Menzgold Ghana has assured all its cherished customers that neither Menzgold as a business entity nor any of its products has been shut down.

According to Menzgold, gold trades of customers are safe and business is proceeding as usual.

The assurance came on the heels of statement coming from the Securities and Exchange Commission ordering the gold trading firm to suspend their operations with the public with immediate effect.

In a letter dated September 7, SEC said it has thoroughly investigated the activities of Menzgold and has found that, the firm does not have the license to trade in gold collectibles from the public.

The statement also claimed that interactions with representatives of Menzgold confirmed to SEC the view that the aspect of Menzgold’s business which involves purchase and deposit of gold collectibles and guaranteed returns is a capital market activity under Act 929 without a valid license issued by SEC which contravenes the law.

However, Menzgold management said it finds it very unfortunate that a letter relating to business discussions between the organization and the Securities and Exchange Commission has found its way to the public.

“Menzgold in the wake of the Bank of Ghana warning to the public to desist from doing business with the organization availed itself to all relevant State Institutions for various consultations and dialogues designed to arrive at a productive and sustainable resolution,” it said.

Management also averred that SEC was one of the organizations with whom they have been hopeful of arriving at a cordial resolution to all matters.

It said: “This needless leak believed to be coming from the Securities and Exchange Commission is, to say the least, in very bad faith and distasteful; as it defeats our confidence in the body and an affront to cooperation.”

The firm however condemned SEC for the development.

Meanwhile, the company said it has referred the matter to their lawyers and believe the right action shall be taken to put matters to rest.

Related

Previous Post

Allotey Jacobs Fights ‘Arrogant’ Mosquito

Next Post

PIAC Wants GNPC Boss Investigated …Over Property Acquisition In Takoradi

News Desk

News Desk

Related Posts

One survivor after Air India crash kills hundreds
Africa

One survivor after Air India crash kills hundreds

June 12, 2025
1.5k
Assemblymember Donates Mathematical Sets, Sachet Water to BECE Candidates
News

Assemblymember Donates Mathematical Sets, Sachet Water to BECE Candidates

June 12, 2025
1.5k
Mama’s Light Foundation Empowers Rural BECE Candidates, Offers Scholarships to Top Performers
News

Mama’s Light Foundation Empowers Rural BECE Candidates, Offers Scholarships to Top Performers

June 12, 2025
1.5k
Council of State Member Returns from Global Summit with Renewed Focus on Local Development
News

Council of State Member Returns from Global Summit with Renewed Focus on Local Development

June 11, 2025
1.5k
GGAGG Accuses NLA of Illegal Deal with KGL
Business

GGAGG Accuses NLA of Illegal Deal with KGL

June 11, 2025
1.5k
Culture

Royal Family Of Kaase Refutes Claims

June 11, 2025
1.5k
Next Post

PIAC Wants GNPC Boss Investigated …Over Property Acquisition In Takoradi

“It’s Hard Saying Goodbye”  …Kofi Annan’s Children Say, As World Mourns Global Icon

Kofi Annan Embraced My “Thank A Teacher Foundation”-Bagbin

Leave a ReplyCancel reply

  • Muntaka, Bailiff Showdown  @East Lagon Police Station

    Muntaka, Bailiff Showdown @East Lagon Police Station

    1454 shares
    Share 582 Tweet 364
  • Lands Commission Blocks Makers Chapel …From Buying 10 Acre Atomic Energy Land From Contractor

    1009 shares
    Share 404 Tweet 252
  • GRA Boss Must Go! … Pressure Mounts On Prez. Not To Extend His Stay

    964 shares
    Share 386 Tweet 241
  • Rambo-Style Demolition @ Roman Ridge

    932 shares
    Share 373 Tweet 233
  • Police Storm Fiankonya …Grab Family Lands; Leave Owners In Despair

    909 shares
    Share 364 Tweet 227
One survivor after Air India crash kills hundreds

One survivor after Air India crash kills hundreds

June 12, 2025

Dynamics of Legislature Oversight

June 12, 2025
Assemblymember Donates Mathematical Sets, Sachet Water to BECE Candidates

Assemblymember Donates Mathematical Sets, Sachet Water to BECE Candidates

June 12, 2025
One survivor after Air India crash kills hundreds
Africa

One survivor after Air India crash kills hundreds

by News Desk
June 12, 2025
1.5k
More News

Dynamics of Legislature Oversight

by News Desk
June 12, 2025
1.5k
Assemblymember Donates Mathematical Sets, Sachet Water to BECE Candidates
News

Assemblymember Donates Mathematical Sets, Sachet Water to BECE Candidates

by Frank Amponsah
June 12, 2025
1.5k
Mama’s Light Foundation Empowers Rural BECE Candidates, Offers Scholarships to Top Performers
News

Mama’s Light Foundation Empowers Rural BECE Candidates, Offers Scholarships to Top Performers

by Frank Amponsah
June 12, 2025
1.5k
Council of State Member Returns from Global Summit with Renewed Focus on Local Development
News

Council of State Member Returns from Global Summit with Renewed Focus on Local Development

by Frank Amponsah
June 11, 2025
1.5k

Latest

  • One survivor after Air India crash kills hundreds June 12, 2025
  • Dynamics of Legislature Oversight June 12, 2025
  • Assemblymember Donates Mathematical Sets, Sachet Water to BECE Candidates June 12, 2025
  • Mama’s Light Foundation Empowers Rural BECE Candidates, Offers Scholarships to Top Performers June 12, 2025
  • Council of State Member Returns from Global Summit with Renewed Focus on Local Development June 11, 2025
ADVERTISEMENT
The New Crusading Guide Online

The New Crusading Guide is a privately own newspaper in Ghana with Mr ABdul Malik Kweku Baako as its Editor in Chief. We give you the latest news

Follow us on social media:

Recent News

  • One survivor after Air India crash kills hundreds
  • Dynamics of Legislature Oversight
  • Assemblymember Donates Mathematical Sets, Sachet Water to BECE Candidates
  • Mama’s Light Foundation Empowers Rural BECE Candidates, Offers Scholarships to Top Performers
  • Council of State Member Returns from Global Summit with Renewed Focus on Local Development

Special Links

  • Submit article
  • Your News
  • Advertise
  • Advertise
  • Gett Sorted
  • Your News

Quick Links

  • About
  • Advertise
  • Careers
  • Privacy & Policy
  • Contact
  • About
  • About
  • Advertise
  • Careers
  • Privacy & Policy
  • Contact
  • About

© 2025 The New Crusading Online - All rights Reserved. Powered by Uthink.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Home
  • Home
  • Politics
  • Politics
  • Politics
  • Politics
  • Politics
  • Politics
  • Science
  • Science
  • Science
  • Science
  • Science
  • Science
  • News
  • News
  • News
  • News
  • News
  • News
  • World
  • World
  • World
  • World
  • World
  • World
  • Business
  • Business
  • Business
  • Business
  • Business
  • Business
  • National
  • National
  • National
  • National
  • National
  • National
  • Sports
  • Sports
  • Sports
  • Sports
  • Sports
  • Sports
  • Entertainment
  • Entertainment
  • Entertainment
  • Entertainment
  • Entertainment
  • Entertainment
  • Lifestyle
  • Lifestyle
  • Lifestyle
  • Lifestyle
  • Lifestyle
  • Lifestyle
  • Travel
  • Travel
  • Travel
  • Travel
  • Travel
  • Travel
  • Opinion
  • Opinion
  • Opinion
  • Opinion
  • Opinion
  • Opinion
  • Tech
  • Tech
  • Tech
  • Tech
  • Tech
  • Tech

© 2025 The New Crusading Online - All rights Reserved. Powered by Uthink.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version
eu-ua.org
godawards.com
humanics-es.com
iuorao.ru
oren-sarmats.ru