The management of Menzgold Limited has asked the general public to keep calm in the wake of the company being shut down.
The Securities and Exchange Commission (SEC) shut down the gold trading company following some allegations, according to an earlier report by Atinkanews
According to the SEC, Menzgold was dealing in the purchase and deposit of gold collectibles from the public, and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.
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This, according to the SEC, is in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”
Therefore, it ordered Menzgold to desist from its trading activities.
In a response, the management of Menzgold has issued a statement assuring clients and investors of safe investment.
The management also descried the release of such information to the public by the SEC, calling it “distasteful”.
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Among many things, the Menzgold management revealed that the company had contacted its lawyers, assuring customers that the right action will be taken on the matter soon.
“We urge for calm as we deal with this matter to its logical conclusion. Your gold trades are very safe and business is proceeding as usual”, the statement reads
READ FULL STATEMENT BELOW:
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