Gold dealership company, Menzgold has issued a communiqué to its customers, informing them of the firm’s decision to remain closed until 28th September 2018 as it tries to resolve its impasse with the Securities and Exchange Commission (SEC).
Menzgold first issued a press release on 12th September, informing the public that it was shutting down operations for six working days following directives from SEC to shut down.
Per the first communiqué, the company was to be reopened for business from September 20, 2018 but this latest release has extended the date to September 28, 2018, a development which is likely to cause fear and panic among customers.
Most customers after the first press release, were fervently waiting for September 20, to go and do business with the firm or withdraw their money, however all that would have to wait for a week more as the firm continues to remain closed for business, further increasing the uncertainty surrounding the future of Menzgold and the money of depositors.
The SEC in the wake of all these has defended its decision and stance on Menzgold, arguing that they are rather doing all these to protect the interest of vulnerable customers.