Over 300 Menzgold Customers Have Reportedly Died Since 2018 Collapse
- The Coalition of Aggrieved Menzgold Customers dislcosed that more than 300 of its members have died in the eight years since losing their investments
- NAM1 filed his mandatory witness statements at the Accra High Court on July 13, 2026, following a failed attempt to stall the trial through appeals
- Nana Appiah Mensah faces 39 criminal counts, including money laundering and defrauding customers of over GH¢340 million
More than 300 customers of collapsed gold dealership Menzgold have died over the past eight years after losing their investments, according to the spokesperson for the Coalition of Aggrieved Menzgold Customers (CACM), Frederick Forson.
The figure underscores the human toll of the 2018 collapse of Menzgold Ghana Limited, an unlicensed gold dealership and investment firm whose failure left thousands of customers unable to retrieve their funds.
Source: Facebook
CACM has continued to pursue justice through the criminal trial of the company's chief executive officer, Nana Appiah Mensah, widely known as NAM1.
NAM1's trial reaches key milestone
The Accra High Court concluded its Case Management Conference on July 13, 2026, marking a significant step forward in the proceedings.
NAM1 filed his mandatory witness statements at that hearing, a development that had been delayed after his legal team sought to suspend the trial by appealing a court order compelling him to open his defence.
Both the Court of Appeal and the Supreme Court rejected those applications, cutting off the avenue for further delays and keeping the trial on course.
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Charges against NAM1
NAM1, together with Menzgold Ghana Limited and Brew Marketing Consult, faces a total of 39 criminal counts.
The charges include money laundering, operating an illegal deposit-taking business, and defrauding customers of more than GH¢340 million.
Menzgold operated without a licence from the Bank of Ghana or the Securities and Exchange Commission, accepting customer deposits under the guise of gold trading returns.
When the company collapsed in 2018, thousands of investors were left with locked-up funds and no clear path to recovery.
CACM has remained active throughout the intervening years, lobbying for government intervention and closely monitoring the criminal proceedings as the primary mechanism through which customers hope to recoup their losses.
NAM1 falls ill amid ongoing Menzgold trial
In a related development, YEN.com.gh reported that Nana Appiah Mensah had reportedly fallen ill amid his ongoing Menzgold prosecution.
The businessman informed the Accra High Court of his condition, leading the court to grant him a request for a virtual trial.
Many Ghanaiansreacted angrily, questioning delays in the case and raising concerns about fairness and justice in high-profile prosecutions.
Source: YEN.com.gh
