The managers of Oil Marketing Company (OMC), Misyl Energy, are cautioning those who owe them to take immediate steps to pay their debts or face the wrath of the company.

Chairman of the company who is also the owner of Ghana Link, Nick Danso Adjei stated in a release that should the debtors fail to pay up their debts, Misyl Energy will not hesitate to publish their names in the coming weeks and also drag them to court for deliberately refusing to pay their debts.

“When they come they and cry to you and you listen to their cry and give them the oil on credit then they turn to pay you back with evil. So I have decided that if they dont advise themselves and do the honourable thing, I will publish their names and sue them on top,” he stated.

The last person that tried to dupe Misyl Energy is languishing in Nsawam on remand and this, according to the management of the company, should serve as a useful lesson to defaulters.

David Tay at police station for allegedly defrauding Misyl Energy

It would be recalled that the Chief Executive of Renaizance Oil Limited, David Aseye Tay, was remanded for allegedly defrauding some Bulk Distribution Companies (BDCs) to the tune of whopping six million dollars ($6m), equivalent of about GH¢28million.

Thanks to the law which is no respecter of persons, the man who allegedly boasts to industry players that he is untouchable and that no court could handle him, found himself on remand.

The accused made first appearance in Commercial Court 6, on 1st July 2019.

David Tay, according to information gathered, bought Petroleum products from Misyl Energy between January 2018 and July 2018, in the name of three Oil Marketing Companies (OMC)– Goodness Energy Limited. Compass Oleum Limited and G&G Oil Company Limited.

The petroleum product totalled GH¢ 27,963,128.00, with these companies and issued cheques valued at GH¢25, 245,510.00), with promise to pay the difference later.

However, “The cheques he issued to us gets returned anytime we present them to the bank which made us called for a meeting with him to discuss his debt position and the issue of the returned cheques. He promised at the meeting to pay in full by 15th August 2018.

“He also informed us at the meeting for the first time since we started doing business with him that, two of the OMCs he has been using to buy products from us are not his companies i.e. Goodness and Compass Oleum,” a letter, dated August 14, 2018, addressed to the Criminal Investigations Department of the police stated.

According to the BDC “We believe that this piece of information as concealed from us so as to mislead us and in fact he misled us into believing that we were dealing with companies belonging to him” and that “His general conduct in recent times gives us a reasonable suspicion that he has defrauded us by false pretenses and has no intention of paying the debt.”

Information gleaned, revealed that the petroleum product David Tay bought from the BDC was reduced and sold in cash on the market.

It was therefore mind-boggling why Renaizance Oil Limited chief executive did not pay the GH¢27,963,128.00.