An Accra High Court has dismissed the case filed by embattled gold dealership firm, Menzgold seeking to stop the Security and Exchange Commission (SEC) and the Bank of Ghana from regulating its activities.
The under fire company in September 2018, proceeded to court demanding that they are slapped with damages for hurting their then thriving business.
The Security and Exchange Commission (SEC) at the time had asked Menzgold to stop its gold trading activities because they had failed to renew their operating license.
The High Court on Thursday, January 10, 2019, after an objection raised by SEC, agreed with SEC that Menzgold should have exhausted the ongoing discussion to resolve the ongoing dispute before rushing to file the case.
The court consequently dismissed the case.
Meanwhile, an Accra circuit court on Wednesday issued a warrant for the immediate arrest of Menzgold CEO, Nana Appiah Mensah aka NAM 1.
He is wanted for defrauding by false pretence following his company’s failure to pay investors both their principal and dividends for several months.
Nana Appiah Mensah, is believed to be hiding in Nigeria or South Africa.
The security agencies have alerted Interpol about the embattled CEO.
