25% of Ghanaians invested in Menzgold – Amanda Clinton

The lawyer representing some aggrieved Menzgold customers to get their locked-up funds back from the now-defunct Menzgold Company Limited, Ms Amanda Akuokor Clinton, has said that one out of every four Ghanaians invested in the troubled gold dealership firm owned by Nana Appiah Mensah (NAM1).

According to her, NAM1 and his cohorts were enriched by one in every four Ghanaians who invested in the company.

It is currently not clear how many people invested in the company.

Following the arrest of over 100 customers of Menzgold who besieged the private residence of NAM1 at Trasacco on Wednesday, 8 January 2020 to demand their money from the embattled CEO, Ms Clinton, in a statement, said: “The fact remains that Menzgold/Brew were unjustly enriched by 1 in 4 Ghanaians who remain unpaid and aggrieved following investments that were prevented by government institutions”.

She stated that the warnings by the various regulatory bodies were not enough, adding that an earlier shutting down of Menzgold could have prevented mass loss.

“It is a wonder how the Bank of Ghana allowed hundreds of thousands of dollars, at a time, into the country to be invested in Menzgold from foreigners and Ghanaians abroad while allowing seven months to pass before aiding in the process of freezing all Menzgold/Brew business bank accounts,” she said.