We can’t guarantee amount to accrue from the sale of Menzgold’s assets – SEC 

The Securities and Exchange Commission (SEC) would not be able to guarantee the amount of money from the sale of assets of gold dealership firm, Menzgold, the Director General of SEC has said.

According to Rev. Daniel Ogbarmey Tetteh, the assets of the company are being investigated and cannot assure customers of how much proceeds to be made.

“At this point, let me say, it is a very unfortunate situation for investors of Menzgold but at this moment the regulator cannot give any assurance of what funds can be made from the assets,” he said.

According to the Director General of SEC, customers cannot be guaranteed any amount of money or full payment of their investments after the company’s assets have been sold.

“There is no insurance because the firm is not regulated by the Securities and Exchange Commission so there is nothing we can do and that is why we are calling on the general public to be vigilant in their investment decisions.”

Rev. Ogbarmey Tetteh spoke to JoyBusiness after addressing a press conference on the developments in the securities front. He indicated that the Commission is taking steps to ensure that players in the sector comply with the rules of the Commission.

The Commission is, therefore, appealing to the public to give out information on investment firms operating in their locality illegally since the Commission cannot be everywhere.
 

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