Favourable outcome expected from fresh charges against NAM 1 - Menzgold customers

The Coalition of Aggrieved Customers of Menzgold Ghana anticipates positive results from the new charges filed against NAM 1, the CEO of the defunct gold dealership company.

According to Public Relations Officer, Timothy Binob, any favourable information about Menzgod is welcomed.

He stated that they were hoping that the fresh accusations filed against NAM 1 would result in a favourable outcome.

He also stated that they had constantly petitioned the Attorney General’s office with their concerns.

“The Attorney General’s Office is a public institution, so we are happy that the office has said we deserve justice and have filed new charges against NAM 1,” he said. The Attorney General’s promise is positive, so I cannot claim that we cannot trust the process.”

In an interview with Kwabena Agyapong on Rainbow Radio 87.5Fm’s Frontline, Mr. Binob stated that the government should accept some of the blame for the difficulties they have faced.

“The government is to blame for all of the problems in the Menzgold saga.” So it’s excellent news if the government made the mess and wants to rectify it. I say this because the company did not fail due to financial difficulties. However, the situation was brought about by the government’s action. The problem has been ongoing for four years, so the government’s willingness to address it is encouraging.”

He disclosed that, according to a credible list, over 100 members had died.

“However, we have learned that several other members have died and their families have not come to us to document the numbers.” But curr, only 100 members have died.”

He asked the government to fast-track the issue since further delays would lead to more deaths of customers.

Background

Godfred Yeboah Dame, the Attorney General, has assured customers of Menzgold Ghana Limited, the defunct gold trading company, of justice.

He stated that the 39 new charges filed against Menzgold CEO Nana Appiah Mensah, aka NAM 1, will result in justice for the customers.

Among other charges, the embattled CEO is facing 39 counts of defrauding by false pretence, engaging in gold trading without a licence, and money laundering.

Dame criticized a defunct dealership firm as a Ponzi scheme, causing homeless individuals, broken marriages, and some fatalities, during his keynote address at the 40th International Symposium on International Crime.

“It called itself Menzbank and metamorphosed into a number of names before eventually taking up the name Menzgold. It dealt with the purchase of gold collectables from the public and issued contacts with guaranteed returns to the public without a license from the relevant authorities…I am happy to state that after painstaking investigations, criminal prosecutions have commenced into the perpetrators,” he stated.