Menzgold customers nationwide remain resolute in their demand for the prosecution of Nana Appiah Mensah (NAM1), the embattled former CEO of Menzgold. The aggrieved customers emphatically express their unwavering support for NAM1 to face legal consequences for the collapse of the defunct Menzgold Company.
BACKGROUND OF NAM1 MENZGOLD SAGA
The genesis of the Menzgold collapse dates back to 2018 when the Securities and Exchange Commission (SEC) instructed Menzgold to cease its public gold trading operations. The directive stemmed from Menzgold’s alleged unauthorized gold collectibles transactions and guaranteed returns without a valid license from the Commission. Despite initially complying with the SEC’s order, Menzgold has struggled to fully reimburse its aggrieved customers over the past two years.
NAM1’s legal troubles extend beyond the Menzgold collapse. After being acquitted and extradited to Ghana in 2019 for allegedly defrauding a businessman in Dubai, NAM1 spent six months in police custody in the UAE. The Ghanaian government dispatched a delegation to facilitate his extradition, aiming to ensure settlement for the frustrated Menzgold customers.
STATEMENT: AGGRIEVED CUSTOMERS CALL FOR NANA APPIAH MENSAH (NAM1) PROSECUTION
Statement From the Aggrieved Customers of Menzgold
In a recent statement from the Coalition of Aggrieved Customers of Menzgold Ghana, dated January 9, 2024, the group firmly supports the Attorney General’s pursuit of justice for Menzgold customers. The coalition further calls on NAM1 to disclose the Dubai judgment, emphasizing its status as a public document.
NAM1 faces 39 counts of fraud and money laundering charges, and the legal proceedings have been protracted. The Attorney General, on August 30, 2023, filed new charges against NAM1 after a nolle prosequi was entered, replacing the earlier charges. Despite being granted bail on September 19, 2023, with stringent conditions, including a GH¢500 million bail bond and surrendering his passport, NAM1’s legal saga continues.
Deputy Attorney General Alfred Tuah Yeboah announced the intention to seek daily hearings in NAM1’s case, underscoring the commitment to expedite the legal proceedings surrounding the Menzgold saga.
