Meet Jane who took GH¢24,000 loan to invest in Menzgold

Meet Jane who took GH¢24,000 loan to invest in Menzgold

- A woman had taken a GH ₵24,000 loan from the bank to invest with Menzgold to raise money for her rent

- Unknowingly to her, her husband had also taken a GH ₵60,000 loan from his bankers with the same intention

- Apparently, they had both hidden their investment from each other until the company was shut down

As the search for the CEO of Menzgold Company Limited, Nana Appiah Mensah, continues, heartbreaking stories of victims who have invested thousands and millions of cedis keep coming up.

A mother of three in her early 30s, Jane, who had the dream of starting her own business and being her own boss, has also been affected.

In a report sighted by on, Jane said in July 2018, a close friend advised her to take a chance on life and invest in Menzgold.

Meet Jane who took ¢24,000 loan to invest in Menzgold
The distraught mother of three who has been shattered by Menzgold. Photo credit; JoyNews
Source: Facebook

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According to her, the friend advised her to contract a loan from the bank and invest so she could change her life for the better.

A friend who supports me through hardship introduced Menzgold to me pointing out that I cannot depend on the coins I am making here and there. So, she advised I take a loan and use the little interest I get from it to support the other things I was doing on the side,” Jane narrated.

Jane said she thought the advice was timely because her landlord had just informed her that he would increase the rent and also demanded that the new fee is paid in advance.

Her rent had been increased from ¢350 to ¢500 for a two bedroom apartment in the capital.

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“I told her I did not have enough in terms of balance in my account but she motivated me to go to my bankers to inquire if they will allow her to guarantee for me,” she disclosed.

“Unfortunately, my husband was not around so I did that on my own,” the distraught mother added.

“I took ¢24,000 and deposited it there on July 13, 2018. The next month, I was given the extra value which I had planned to use to repay the loan so when I finish paying it, I will use the capital for my business,” she said amid tears.

Jane was to get ¢2,400 as interest from the gold dealership firm every month, ¢1,200 of which she had planned to use to pay her monthly loan repayment at her bank.

READ ALSO: Menzgold PRO discloses NAM1’s location; says he was working there to raise money

However, things did not go well as she expected, recounting how she got the shock of her life.

Things took a wild turn when she was alerted by a friend that Menzgold was having challenges and she (the friend) did not get her interest as scheduled.

The biggest shock came when she called to inform her husband about her move to earn something to help the house expenses, only for him to also confess to taking a loan to invest with Menzgold.

“He shouted, ‘Herh! I did it too but I hear the place is collapsing’,” Jane narrated.

Unknown to her, the husband had also taken a loan of ¢60,000 from his bankers in Sunyani, where he was based, to invest in Menzgold.

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Her husband came back to Accra after a week only to be hit by the hard reality that Menzgold was indeed having troubles with the Securities and Exchanges Commission (SEC) and they had been shut down.

That day we confirmed that I realised I was shaking terribly…I told him and he told me to go and shower and I will be fine but I was dying inside,” she revealed.

She rushed to the hospital with her one-year-old daughter strapped behind her back.

“Immediately the doctors checked my temperature and blood pressure, they took the baby away from me…I was scared and didn’t know what was happening,” Jane said amid sobs.

READ ALSO: Photo of NAM1 managing a single room before rising to fame and riches pops up

Meanwhile, Nana Appiah, also called NAM1, has been declared wanted by INTERPOL for charges of defrauding under false pretenses.

This follows his inability to repay funds invested with his company since it was shut down by BoG and SEC about six months ago. has also published a report containing NAM1’s plush gold mansion and expensive cars in Trassaco.

Again, a report on how NAM1 lived in a single room before his rise to fame and riches has also been published.

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READ ALSO: Amount that Yvonne Nelson, Tracey Boakye, A-Plus and Queci Oteng are alleged to have invested in Menzgold pops up

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