Collect our money at NAM1 before continuing – Menzgold customers

General News on Wednesday, July 17, 2019

Source: citinewsroom.com

2019-07-17

Gold distribution company clients, Menzgold, want the government to focus on recovering their funds for the company instead of the criminal lawsuits against the company's CEO, Nana Appiah Mensah.

According to clients, the priority given to prosecution by recovering their blocked investments is insensitive.

Acting Chief Executive Officer is being tried for two counts of false pretense fraud and two counts of inducing banking without a license, contrary to section 6 (1) the Banks and Specialized Deposit Institutions Act, 2016).

Reacting to this decision at a press conference, spokesman for the injured clients, Frederick Forson called on the government to focus on recovering their funds.

"We are really uncomfortable and alarmed by the fact that NAM 1 has been in custody for two weeks, despite the actual status of NAM 1. The state has the power to defer criminal proceedings against the NAM 1 and ensure that thousands of citizens whose investments are blocked are paid as soon as possible. "

Some Menzgold aggrieved customers have taken legal action against the company and its CEO to recover their funds from Menzgold.

For almost a year, the company has not been able to fulfill its contract with many customers, that it promised dividends, when it bought collectibles in Gold to the sister company Brew Marketing Consult of Menzgold and invested it with Menzgold.

After months of detention in Dubai, Nana Appiah Mensah, Menzgold's boss, returned to Ghana last Thursday and was immediately taken to the Ghana Police Criminal Investigation Department for questioning. INTERPOL Red Alert was launched when he was in the UAE.

He subsequently appeared in court on Friday and was detained by the police for two weeks.

NAM1 is being tried for two counts of false pretense fraud and two counts of inducing banking without a license, in violation of Article 6 (1) of the 2016 Law banks and specialized deposit institutions (Law 930).

NAM1 has been accused of defrauding its customers for about 1.68 billion GHc.

According to the indictment, the money came from 16,001 people, who invested 1,680,920,000 GHc in society.