Mengzold Ghana has taken their battle with the regulatory agencies up another notch, filing a legal case against both the Securities and Exchange Commission (SEC) and the Bank of Ghana (BOG).
In the suit, Menzgold argues that the two agencies have abused their power in coming after them and caused untold harm to their business.
Menzgold, in the suit filed by their lawyer Kwame Akuffo, calls for the court to halt the abuse against them and to award them damages for the harm they have suffered.
Over the past several months Menzgold has been embroiled in tussles with the state agencies, first with the BOG, then later the SEC who have brought their operations to a complete halt.
The SEC recently said that Menzgold could still pay dividends to customers but that was debunked by the firm who said they can’t pay dividends if they don’t trade.
Menzgold had promised from the start to pursue legal action if the interference in their business does not stop.
GhanaCelebrities.Com would bring you more on the suit in due time.
At this time, it’s unclear what effect this would have on the company’s stated deadline to resume business.