We wish to commend government and police CID for issuing an arrest warrant for the CEO of Menzgold and two others and wish to plead with the victims of this suppose scandalous deal to exercise restraint and refrain from all forms of demonstration and halt any attack on the suppose scammer’s person or property and allow the law and due process to take its course for refund where applicable by the contract signed.
After this misfortune is done away with, it will be in the public interest to intensify public education on savings and investment to save the public from always falling prey to scams, Scandalous and Ponzi scheme. The history of Ponzi scheme is traced to one Charles Ponzi in United States of America, the tactics of these Charles Ponzi schemes are all aim at targeting greedy people who buy into the schemes thinking they can make abnormally huge profit on their savings or investment but, as has been the case with Resource 5000(R5). Pyram and now Menzgold they always feel deceived and cheated.
Citizens must be advice against such loss and weak agreement involving gold buying and investing same for and on behalf of customers who some never bordered to verify the genuineness or otherwise of the said gold, it is obvious the attractive interest and incentives blindfolded them in rushing for a Trojan horse transactions.
Going forward the regulators of these macro and micro financial institutions should be alive to their duties to ensure our financial marketer is not taken over by financial scammers operating a seemingly genuine service yet end up being a false pretense to dupe unsuspecting and innocent customers.
Much as we commend government for this intervention, we as well wish to caution government against using tax payers money to pay individual debt cause by desire to earn more than usual, the government can help with the arrest and prosecution and ensure justice is dispense to appease the victims and refund of their savings under lawful settlement.
Felix Djan Foh