NAM1 faces 39 new charges

• Posted on August 31, 2023
• by Nana Kwesi Coomson
• Comment

In a shocking turn of events, Nana Appiah Mensah, commonly known as NAM1, the Chief Executive Officer (CEO) of Menzgold Ghana Limited, has been hit with fresh charges filed by the Attorney General’s Department.

The charges total 39 counts and also include NAM1’s other defunct firm, Brew Marketing Consult.

The charges are primarily related to allegations of defrauding by false pretence, as outlined in Section 131(1) of the Criminal Offences Act, 1960 (Act 29).
These charges represent another blow to NAM1 and the already burdened customers of Menzgold.

Adding to their woes, Menzgold recently announced that customers must now fulfill fresh monetary demands before their locked-up claims can be released.

This news has caused significant frustration and outrage among the already financially-struggling customers.

According to a statement released by Menzgold on August 18, 2023, the company completed the validation process of transaction supporting documents submitted by customers.

To their dismay, it was discovered that 60% of the claims had unacceptable infractions, rendering them invalid.

In the final phase of the due diligence process, Menzgold requires customers with genuine indebted transaction claims to acquire the Menzgoid Digital Verification Access Card from authorized Payboy Agents allegedly owned by him.

These cards, priced at GHC650 each, will enable customers to verify their transaction validation status between August 10 and September 14, 2023.

Menzgold emphasizes that they cannot provide free verification services like they did during the initial validation exercise. The company states that their resources must be dedicated to paying off their financial liabilities, prompting the need for this new payment obligation.

Customers are warned that failure to comply with this final verification exercise may result in the forfeiture of their claims. There is a fear that those who do not undergo this process will lose any hope of recovering their funds altogether.

This development has significantly escalated the already existing outrage and frustration among Menzgold customers. Many are questioning why they are being burdened with additional financial obligations when they are victims in this situation. Concerns have also been raised about the company’s motives, with fears that the rightful funds may never reach the customers.

The Menzgold saga has been ongoing for years, marred by allegations of fraud and mismanagement against the company. While the Ghanaian government has taken steps to address the issue, the resolution remains distant.

As customers anxiously await the outcome of this new verification process, the future remains uncertain for those who have already suffered severely due to the Menzgold crisis.

By Vincent Kubi