NAM1 Makes U-Turn, Moves To Retrieve GH¢2.5M Given To Police To Settle Aggrieved Menzgold Customers

• The CEO of Menzgold Ghana Limited plans to retrieve the GH¢2.5 million he deposited with police to settle his customers
• Nana Appiah Mensah, aka NAM1, told Starr FM that police have breached an agreement they had
• Frederick Forson, the convener of Aggrieved Customers of Menzgold, told YEN.com.gh that customers were well briefed on the situation

The CEO of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1, plans to retrieve GH¢2.5 million he deposited with police to distribute to aggrieved customers of his firm.

NAM1 has said police were not supposed to deposit the money he gave them at the Bank of Ghana.

He told Starr FM he was expecting the police to provide a desk to distribute the monies to aggrieved customers.

“I am surprised the money has been deposited at the Bank of Ghana. I will go back to the police and ask them to give the money back to me because that was not the arrangement we had,” NAM1 said.

Read also

“Poor man pikin go think say na GH¢113”: Reactions as billionaire gifts 750 students over GH¢15k each

On Friday, October 20, 2023, police said it received the GH¢2.5 million from NAM1 for the payment of customers.

In a statement on Tuesday, October 24, police said the money had been deposited in the Police Exhibit account at the Bank of Ghana for the attention of the Court.

Speaking to YEN.com.gh, Frederick Forson, the convener of Aggrieved Customers of Menzgold, said they were aware of the turn of events.

“So if you are a customer and somebody tells you there is payment taking place at the CID, that is not the case," he said.

Forson also urged his fellow aggrieved customers to cooperate more with the state.

"The report we are getting is that the people needed to volunteer information, some of them are dragging their feet, and I don’t think it is the best."

Read also

Stephen Apemah-Baah: OWASS Form 1 boy speaks on ambition to attend Harvard University

Alleged fraud from Menzgold

NAM1, his wife, and his sister have been accused of using Menzgold to defraud more than 16,000 people of GH¢1.68 billion.

YEN.com.gh reported when NAM1 was first arrested in January 2019 in Dubai and granted bail.

Menzgold suspended its operations after an order from the Securities and Exchange Commission (SEC). Menzgold was purchasing and depositing gold collectables without a license.

NAM1 slapped with new charges by Attorney General

In a separate story, YEN.com.gh reported that the Attorney General filed new charges against Nana Appiah Mensah, CEO of the defunct gold trading company Menzgold.

The old case against Nana Appiah Mensah was also dropped after three years and 36 adjournments.

Nana Appiah Mensah has been accused of using Menzgold to defraud more than 16,000 people of GH¢1.68 billion.

Source: YEN.com.gh