A former Deputy Attorney General has criticised the Economic Organised Crime Office (EOCO) for its delay in freezing the accounts of the Chief Executive Officer of the defunct Menzgold company. 

Joseph Kpemka said EOCO didn’t act quickly sufficient. 

According to him, the establishment should have pursued justice for the shoppers of the agency. 

Mr Kpemka, who was head of a government delegation probing the matter at the time, had EOCO executed that, the influence would have been decreased. 

“EOCO should have reacted quickly by freezing such accounts immediately it came to its attention. At the time, we had not mounted any civil action against NAM 1 so EOCO had the power to freeze his accounts.”

On Monday, September 12, aggrieved prospects of Menzgold thronged the principal streets of Accra to remind the government of their locked-up monies.

In 2018, Menzgold was requested to droop its gold buying and selling operations with the general public by the Securities and Exchange Commission (SEC).

According to the SEC, Menzgold had been dealing in the acquisition and deposit of gold collectibles from the general public and issuing contracts with assured returns with clients, with no legitimate license.

This, the SEC said was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”

Menzgold has, nonetheless, failed to totally pay its prospects the worth of their gold deposits in addition to their complete investments.

Some aggrieved prospects have, since, staged protests to demand the cost of their locked-up money.

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