Nana Appiah Mensah Says He Doesn't Recognise Aggrieved Menzgold Customers Association And Other Interest Group

• Nana Appiah Mensah has said he doesn't recognise interest groups purporting to front for the interest of Menzgold customers
• He made the comments on Monday, August 21, 2023, during a Twitter Space moderated by Serwaa Amihere
• Meanwhile, aggrieved Menzgold customers who have been asked to validate the payment claims say they have been earmarked to receive their money as far as 2025
• Lawyer for some aggrieved Menzgold customers Amanda Akuokor Clinton has told YEN.com.gh in an interview that she feels NAM1's bail should be revoked

CEO of defunct gold dealership firm Menzgold has said he does not recognise any interest group that fronts for customers of the troubled company chasing their locked-up cash.

Nana Appiah Mensah known popularly as NAM1 made the declaration on Monday, August 21, 2023, during a Twitter Space moderated by Serwaa Amihere.

Read also

It's time for NAM1's bail to be revoked: Amanda Clinton breaks down issues with latest moves

He made the declaration in response to a question posed to him about the sentiments of interest groups affected by the collapse of his business.

Per NAM1's declaration, the push by the popular Aggrieved Menzgold Customers Association of Ghana, which has been fronting for the interests of thousands of customers of the firm, does not amount to much.

"I do not recognise any entity or organisation that purports to represent any customer. I don't have any group like the Association of Menzgold Customers because they don't exist in my books. I don't have a client like that," he said.

In 2019, the group expressed anger over what they say was President Nana Akufo-Addo’s attempt to ridicule them over their lost investment.

For many years, the group said to have over one thousand members, has been at the forefront of pushing for the interests of members since the company collapsed in 2018.

Read also

Twitter user, Oprah calls NAM1 names during live Twitter space over Menzgold payment saga

The group's long-time president, Frederick Forson, recently described Mensah and his ongoing validation process as a scam.

Meanwhile, aggrieved Menzgold customers who took part in NAM1's latest validation process say they have been earmarked to receive their funds as far as 2025.

A coalition of aggrieved Menzgold customers told YEN.com.gh that these timelines were evidence of a scam from NAM1.

The group has urged Menzgold to make the validation process credible by involving state regulators like the Bank of Ghana.

Good time for NAM1's bail to be revoked

Meanwhile, private legal practitioner, Amanda Akuokor Clinton, told YEN.com.gh in an exclusive interview that the prosecution should look into whether to apply for Mensah's bail to be revoked.

According to the Head of Chambers of Clinton Consultancy, Mensah may be in breach of the law for enticing investors under a further ruse with his GH¢650 offer which he has now said he will refund.

Read also

“I was the biggest loser": NAM1 claims he lost everything when Menzgold collapsed

"Especially since SEC shut down the company and said no further advertising should take place; and his 61 charges include operating without a license and money laundry. These would mean he was in no position to entice customers, committing a further offence whilst on bail," she told YEN.com.gh.

Ms Clinton's law firm represents some Menzgold customers whose funds have been locked up.

NAM1 defends screening of aggrieved customers demanding locked-up funds

In a related story, YEN.com.gh reported that the CEO of the defunct Menzgold Ghana, Nana Appiah Mensah, has defended the verification process for aggrieved customers.

Mensah has said the verification process has contributed to calming tensions between Menzgold and its customers.

A spokesperson of the aggrieved customers told YEN.com.gh that they will treat the process as another scam.

Source: YEN.com.gh