Legal Advisor For Menzgold Threatens To Sue State Over Locked-Up Funds

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Legal advisor for Menzgold clients, Amanda Clinton has declared her expectations to give a common suit against the state over the secured assets of her customers.

Ms Clinton took steps to sue the Criminal Investigation Department (CID), the Security and Exchange Commission (SEC), Bank of Ghana (BoG), the Minerals Commission just as the Attorney General’s specialty one month from now.

In an extensive letter marked by Ms Clinton dated Thursday, 22 October 2020, she showed that the Menzgold issue is of public intrigue on the grounds that most Ghanaians are influenced, subsequently it ought to have been shut down some time in the past.

Portions of the record expressed: “The Menzgold matter however profoundly shocking and preventable, might be an open door for Ghana to characterize in court the degree to which government organizations owe a particular class of financial specialists an obligation of care if the State neglects to mediate regarding closing down a middle class criminal endeavor at the soonest conceivable open door rather than a lot later when most customers contributed from 2017 onwards.

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“By starting to characterize where one foundation’s obligation starts and another closures, we may in future have the option to guarantee people in general just as offices are more versed in comprehension and forestalling the activities of the individuals who utilize long haul and not transient methodologies to dupe in the unregulated budgetary area.

“For the controllers exist all the more so to recognize, catch and punish substances that are unregulated to keep them from making mass monetary misfortune the overall population, the more drawn out the unlawful activities go on,” it read.

The letter proceeded: “Our position is that public enthusiasm far exceeds the State’s enthusiasm for not paying out to unregulated money related organizations. This is on the grounds that the State’s inaction in not closing down Menzgold and Brew Marketing a whole lot sooner (even inside the principal year) implied that an ever increasing number of speculators had the option to store their monies with Menzgold and Brew Marketing which lead to a remarkable monetary misfortune to the overall population,” it focused.

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Ms Clinton further sketched out certain entanglements of the state administrative bodies for absence of appropriate due constancy among others.

She clarified that Menzgold clients have not had the option to get to and recover their contributed reserves when the SEC suspended the activities of the organization claimed by Nana Appiah Mensah on 7 September 2018.

The clients have left on a few fights and showings since the time to get the legislature to mediate, yet without any result.

In any case, the legislature has started cycles to pay clients of fell and ruined monetary establishments because of the financial area tidy up.

In the interim, the official up-and-comer of the National Democratic Congress (NDC), Mr John Dramani Mahama, has vowed to research the Menzgold outrage whenever chose president in the December 7, 2020, general races.