Some Menzgold customers

The Coalition of Aggrieved Customers of Menzgold has kicked against the three-year payment plan for investors’ locked up investments.

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Speaking at a press briefing, Chairman of the Coalition, Timothy Binob, demanded that the now defunct gold-dealership firm withdraws its three-year payment plan and pay all customers in full before the end of 2019. 

According to him, the three-year payment plan will exclude some customers from retrieving their locked up funds.

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“We want the payment plan revised to include all customers, not that some will be paid and others won’t, we want him to pay us our monies by the end of this year and not in three years,” he said.

“Otherwise we will chase him everywhere he goes for our money,” he added.

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Menzgold on December 15 asked the leadership of the costumers’ group to solicit inputs from disgruntled members to help the company work on modalities to pay back its investors.

This was followed last week by a payment schedule and formula which the firm termed a ‘reverse mechanism’ to pay customers from December 27 within a period of three years.

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Menzgold since its collapse in 2018 following a suspension order from the Securities and Exchange Commission has been struggling to refund monies invested by the customers.