The aggrieved Menzgold customers have demanded the government release money to pay them, just like an allocation has been made for customers of Gold Coast Securities Fund investors.
The customers lamented that for six years, they have chased after their investments, but all to no avail.
Convener of the group, Charles Nyame, indicated that 226 of their members have died due to their inability to retrieve their investments.
He also revealed several others have developed mental health crises with others parading on the streets.
Some also, he said, are suffering from life-threatening diseases and unable to seek medical care.
He insisted that the administrative closure of the company was terrible and could have been done in a more appropriate way.
He said although it was established that Menzgold was engaging in an illegality, in the conclusion of the work done into the activities of Menzgold, it was agreed that the custoners ought to be protected.
“That is what they could not do. They could not protect the investments of the customers, and that is what has brought us to where we are at the moment. The collapse of the company was done because they claimed the law mandated them to do so. However, the Securities and Exchange Commission did a poor job. Act 929 required SEC to have written to NAM 1 demanding whether all customers had been paid. But they failed to do so and issued the letter, which led to the current crisis. There are a lot of questions to be answered.
These and many other challenges have led to the death of 226 members. Some are mentally unstable and parading on the streets. Several others are sick and having difficulties paying their medical bills. We are struggling, and we require that the president do something about it. We have petitioned his office, requesting a bailout and a receiver for us. We are optimistic that the president can do this because he has approved GHC 1.5 billion to pay customers of Gold Coast Securities. When Menzgold collapsed, several of the properties of NAM 1 were seized, and if these properties are sold, it can help pay the money,” he added.
By: Rainbowradioonline.com/Ghana
