Home Business We must be included in bailout package – Menzgold customers to Gov’t

We must be included in bailout package – Menzgold customers to Gov’t

The Coalition of Aggrieved Customers of Menzgold wants its members to be included in the bailout arrangement for collapsed fund management companies.

They contend that since Menzgold falls under the jurisdiction of the Securities and Exchange Commission (SEC), they also fit in the category of beneficiaries of the bailout package.

“We write on behalf of members of the Coalition of Aggrieved Customers to request that customers of Menzgold Company Limited be made part of the beneficiaries of the bailout fund for depositors of collapsed institutions by Securities and Exchange Commission,” the Menzgold customers indicated in a statement.

According to them, over 60 people have died while many others are living with severe health issues with others also left bedridden, as a result of the shut down of Menzgold.

Meanwhile, SEC has agreed to cover all payments due the clients as per amounts validated.

SEC has validated GH¢1.08 billion claims put in by clients of 22 fund management companies (FMCs).

In a statement issued last Wednesday evening, the SEC further clarified that clients of 22 companies against whom the official liquidator (OL) had secured orders would form the first batch to receive payments, while another petition was pending in court to secure orders for the second batch, which would cover clients of about 28 FMCs.