Menzgold Ghana Company Limited has said its audit has shown that 45 per cent of the investment claims made by its clients are fraudulent.
In a statement to outline its payment schedule of clients’ locked-up investments, the now-defunct gold collectables company said: “We note that a great number (about 45%) of claimants/transactions supporting documents are either incomplete, fraudulent”.
It said some of the claims had “dates that reflect periods when our company was not in operations and so on”.
Additionally, Menzgold said some of the clients transacted their investment through “unethical Menzgold and Brew Marketing Consult staff members and in other instances, via referrals, mostly close relations, who took delivery of their funds under the pretext of signing them unto the Menzgold ‘Gold Vault Market’ but ended up engaging in the many cryptocurrency products on sale on the Ghanaian market instead”.
The company, which announced that it intends paying its clients from 30 December 2021, said it will forward all the fraudulent activities to the Criminal Investigations Department of the Ghana Police Service to be dealt with and possibly prosecuted.