Lawyers for embattled gold dealership firm, Menzgold Ghana Limited, have finally filed a statement of defense in a suit brought against the firm by about 53 army officers whose funds are locked up at the company in an unexpected turn of events.

The soldiers sued the company and prayed the court to help recover their investments from the company.

The Chief Executive Officer (CEO) of the company, Nana Appiah Mensah, popularly called NAM1, is currently facing a $51 million fraud trial in the United Arabs Emirates (UAE).

Lawyer for the army officers on February 20, 2019 filed a motion, praying the court, presided over by Justice Jerome Noble Nkrumah, for default judgment after Menzgold failed to enter appearance.

The court, which was filled to capacity by the military officers, was scheduled to deliver its judgment yesterday, but it was told that lawyers for the embattled firm had filed the statement of defense.

This compelled lawyer for the soldiers, Nkrabeah Effah Dateh, to withdraw his application for default judgment.

The 53 soldiers, in their writ filed on December 12, 2018, prayed the court to order Menzgold to refund their monies which range from GH?18,000.00 to GH?244,000 which are their principal investments.

The plaintiff said that the defendant company should pay their principals if it cannot pay interests on their investments.

In their statement of claim, they averred that they undertook “sleepless treks and peacekeeping missions” to invest in the company.

They, therefore, prayed the court to direct Menzgold Ghana Limited to refund their monies.

Meanwhile, the court has awarded a cost of GH?8,000.00 against Menzgold Ghana Limited.