New ‘Menzgold’ hits Ghana with mouthwatering dividend promises

Another suspected Ponzi scheme which goes by the name ‘Golden Empire Legacy Limited (GELL)’ has surfaced on the Ghanaian scene promising to offer mouthwatering profits to its customers who invest their cash into it.

This comes at a time many Ghanaians are yet to come to terms with their shock over the controversial Menzgold saga which has locked up their cash for more than a year.

The investment company claims to buy, trades and stores gold where customers will be offered juicy dividends over a period of time.

Checks on the website of the company reveal that GELL which has some things in common with Menzgold with its gold colors and a bag filled with gold sitting on a stool as its logo claims to offer its customers huge sums of money when they buy gold from them.

The company which has one Miss Joana Gyan believed to be a native of Juabeng in the Ashanti Region as its Chief Executive Officer (CEO), has been legally registered at the Registrar Generals Department but it is unclear if it has acquired the needed licenses from the Securities and Exchange Commission (SEC).

GELL which claims to have an array of companies is likely to compete with gold dealership company Menzgold which has locked up its customers’ monies for some months now.

Gathered GELL just like Menzgold which manages some musicians and owns a media company Zylofon, GELL also owns GEM Media.

GELL has signed a $500,000 contract with Ghanaian Hiplife group aimed at promoting their music internationally.

In a move to attract unsuspecting customers to sign unto the scheme, the CEO and other directors of Golden Empire Legacy Limited with their flashy cars have circulated photos of their contract with the music group on Facebook.

It assured prospective customers not to be scared of their investments because they will be in safe hands.

An official of the company is quoted as saying that the minimum quantity of gold they trade in is 1 kilogram which is worth around $40,000.

“The minimum value we can work with is 1kg of gold. That is worth in the region of $40,000. We don’t take less than that.

“We, however, deal locally and internationally based on the client’s request,” he said.

The scheme which has offices in Accra and some parts of the country has already started recruiting agents.

Fear this might be another Menzgold to extort money from unsuspecting and gullible Ghanaians considering the similarities the new company bears with the troubled one people and later vanish without leaving traces.