General

NAM1 to address the press Monday

Nana Appiah Mensah popularly known as NAM1, Chief Executive Officer of embattled gold dealership, Menzgold Ghana Limited has hinted that he will be speaking to the press on Monday 19th of August, 2019.

The comes after a long period of silence of about a year.

In September 2018, the Securities and Exchange Commission (SEC) ordered the Menzgold dealership to stop taking any further deposits.

This follows a series of warnings from SEC and the central bank because they didn’t have the necessary paper-work to take deposits.

SEC further warned the general public to desist from dealing with the company.

The warnings appeared to have gone unheeded as a result of a 10% returns deal.

According to official reports, about GHS 200 million has been locked up in Menzgold.

A circuit court in Accra, on the 9th of January 2019, issued a warrant for the arrest of NAM1 for his inability to refund cash to customers.

It was later reported that the Menzgold boss was arrested in the UAE where he had supposedly gone to transact business when some of his business partners accused him of fraud.

The case however went in his favor and it was reported that he is due damages to the tune of about $31 billion.

Clients have therefore demanded that he pays back the money owed with the money he got from the case.

 

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