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Some 30 aggrieved Menzgold clients have taken the government to court for negligence in its duty of care with respect to the operations of Menzgold Ghana Ltd and Brew Marketing Consult.
According to aggrieved Menzgold clients, the government’s inability to work together consistently and efficiently to identify and shut down the Ponzi scheme being run by Menzgold Ghana Ltd and Brew Marketing Consult led the plaintiffs to invest in the companies.
The lawsuit filed in High Court is against the Security and Exchange Commission (SEC), the Economic and Organized Crime Office (EOCO), the Bank of Ghana (BoG) and the Attorney General’s Department.
They claimed that the Bank of Ghana’s notices were insufficient to prevent the plaintiffs from investing in Menzgold Ghana Ltd together with Brew Marketing Consult Limited and that this could only have been avoided if the Central Bank had done what was necessary in closing the deal if it believed it to be fraudulent .
Injured clients further accused the defendants of ignoring their own internal policies regarding Ponzi schemes, illegal deposit taking, and criminal enterprises, including specifically set policies on how to spot a Ponzi scheme, leading to bitterness from the two fraudulent entities.
They described the defendants as “blatantly reckless in the way they failed to implement their respective joint policies operationally.”
The Claimants also contend that the Defendants, having seen the repercussions of such sophisticated and fraudulent schemes, failed to fulfill their duty to stop the operations of Menzgold Ghana Limited together with Brew Marketing Consult Limited to prevent the Claimants, as late investors, from investing in fraudulent financial transactions. products.
Therefore, they seek compensation from the accused for failing to perform their duties as expected.
