The Securities and Exchange Commission (SEC) Ghana says it is liaising with the Economic And Organised Crime Office (EOCO) and the Attorney General to go into the operation of beleaguered gold trading firm, Menzgold following the setting aside of Menzgold’s case by an Accra High Court.
Menzgold had prayed the high court challenging the regulatory powers of the Securities and Exchange Commission (SEC), which ordered the company to shut down its supposed illegal operation but the court has dismissed the suit.
Judge, Justice Akua Sarpomaa Amoah stated Menzgold had not exhausted the dispute resolution mechanism with the regulators before rushing to court.
The court’s dismissal according to SEC’s Deputy Director, Paul Ababio will inform its next move although noting that their investigations and information relay to the EOCO has vindicated its actions.
He stated SEC was in talks with the Nana Appiah Mensah led Menzgold to come to a consensus when the troubled company headed to court abruptly
A warrant has been served for the arrest of CEO, Nana Appiah Mensah who is accused of defrauding by false presence and also suspected to have been involved in money laundering.
By Michael Eli Dokosi/goldstreetbusiness.com