Nana Appiah Mensah, CEO of Menzgold, the defunct gold trading company, has disclosed that more than sixty percent of submitted claims for validation are riddled with various issues.
The company identified defects in many claims, including discrepancies in document records, fraudulent supporting documents, and unauthorized fake signatures after requesting clients on July 30 to provide supporting documents for verification to streamline the payment process.
In response, Menzgold has encouraged clients who fall within the over 60 percent category of claims with defects to verify their gold trading transactions’ status. They can do so by obtaining a “Menzgold Traders Transactions Status Verification Access Card” from Payboy Company Limited or its authorized agents.
This card will provide a Personal Identification Number (PIN) for digital verification of the eligibility or ineligibility of their transaction claims.
Payments to customers with fully validated claims are scheduled to begin on October 20, 2023. The announcement reflects ongoing efforts to address the aftermath of the closure of Menzgold and the challenges faced by its clients in retrieving their investments.