)
"Menzgold is not a Ponzi Scheme," he said.
Addressing the press in Accra, the embattled CEO stated that "It is not a ponzi scheme, it is just an innovative drive. Menzgold is not a ponzi scheme. We trade the gold collectibles of our and clients and we make profits from them and then we share with customers. We don’t have to quickly make conclusions and assumptions based on our mental dispositions and basic socialization about things. We need to go further and understand."
He also implored the Attorney General's Department to aid him to retrieve a $39million debt owed his firm by Horizon Royal Diamond in Dubai.
He said retrieving the amount is one of the reasons that will help settle his numerous customers.
)
)
)
He said: "All companies worldwide have liabilities in its books and so do Menzgold. Business, in summary, is all about owing and being owed. We at Menzgold are committed and do express our willingness to service our debts portfolios to our customers and business associates as soon as we can with a given opportunity.
"We respectfully pray the Ghanaian authorities to cooperate with us to achieve the following; to assist us to make full recovery of the amount owed Menzgold by Horizon Royal Diamond in Dubai. As an act of good faith, we are willing to engage the Attorney General’s office on the best possible way for them to aid Menzgold by employing international law and diplomatic relations to ensure we achieve this objective".