Menzgold appoints Payboy to settle debts with customers

• Posted on May 21, 2020May 21, 2020
• by Nana Kwesi Coomson
• Comment

‘Defunct’ gold collectible company, Menzgold Ghana Limited, has appointed a digital marketing company to negotiate debt settlements with its numerous unpaid clients.

Menzgold made the announcement in a statement issued by its Management on May 19, 2020.

The statement revealed that Payboy is to act as a third party entity.

It says the digital marketing firm based in Accra will negotiate and facilitate the payment of the investment of Menzgold customers whose monies are locked up.

Thousands of depositors are believed to have their funds locked up with Menzgold.

“Following an advise given and subsequently reiterated in a press release issued on the 18th December 2019 with reference number; KBA 3015/19 by our counsel, we’re happy to introduce PAYBOY COMPANY LIMITED; a digital payments marketing and promotions company, headquartered at No. 34 Nii Ako Nortei Street, Blohum Road, Dzorwulu, Accra, as the appointed third party entity with capacity to negotiate “Debt Settlements Agreements” and to facilitate payments of same, in our committed resolve to ensure the eventual full debts settlements by Menzgold within the shortest possible time,” the statement read.

“Counting on your kind cooperation as we strive to achieve this noble debt settlement objective,” according to the statement.

Menzgold has been facing legal battle since 2017, with the Securities and Exchange Commission describing its deposits-taking operations back then as illegal.

The company’s assets were frozen and its Chief Executive Officer, Nana Appiah Mensah aka NAM1 was arrested in Dubai in connection with an alleged gold scam.

By Melvin Tarlue