The defunct gold dealership firm, Menzgold, has disclosed that more than 60% of the claims submitted for validation by clients contain various defects.
A statement signed by its Chief Executive Officer, Nana Appiah Mensah, said a range of defects were enumerated within the submitted claims, rendering them invalid.
These defects encompass irregularities and inconsistencies evident in the records presented on the documents, the inclusion of fraudulent supporting documents, and the presence of unauthorized or fake signatures.
These findings have raised concerns about the veracity of a significant portion of the submitted claims.
Menzgold, in the same statement, called on clients falling within the category of more than 60% with potential defects in their claims to take proactive measures.
The company advised these clients to engage in verifying their gold trading transaction status. This verification process aims to ascertain the validity, invalidity, or other relevant factors pertaining to the claimed transactions.
According to the defunct gold dealership firm, this will ultimately determine the eligibility or ineligibility of any submitted claim.
To facilitate this verification process, Nana Appiah Mensah, often referred to as NAM 1, outlined an additional step.
“We entreat confident Customers to acquire a “Menzgold Traders Transactions Status Verification Access Card”, from Payboy Company Limited and/or any of its underlisted agents for a Personal Identification Number (PIN), to be utilized to digitally verify one’s transaction claim eligibility or otherwise,” the statement directed.
The statement further indicated that payments to clients with fully validated claims will commence from October 20, 2023.
It will be recalled that Menzgold earlier called for clients to submit supporting documents for validation in order to facilitate forthcoming payments.
Menzgold, which ceased its operations amidst controversy, had initiated a claims validation process on July 30, urging its clients to provide the necessary documentation to verify their investment claims.
Below is the statement to that effect.
