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Sunday, January 29, 2023

Latest demand by customers of Menzgold against NAM 1 will shock you

Nana Appiah Mensah, Menzgold CEO

Customers of defunct Menzgold are calling for the prosecution of the founder of the firm, Nana Appiah Mensah, also known as NAM 1, to be suspended.

They are of the view this will fast-track the process of retrieving their monies.

According to the aggrieved customers, who expressed disappointment in how the state is dealing with the case, the delay in the prosecution of NAM 1 is an indication of the government’s lack of commitment to retrieving their monies for them.

“We are really disappointed in how the government is handling the matter. To us, the government is not committed to resolving this because for three years the government is still investigating the matter, although it’s not a murder case,” Convener of Menzgold Customers, Fred Forson said on Joy FM’s Super Morning Show on Tuesday.

“This is a straightforward matter so for us Menzgold customers, we believe that this is just a charade and the Attorney-General cannot be telling us they are doing the investigation. This doesn’t have to happen.

“That’s why we have suggested they should take advantage of the current private motion, lay it before Parliament and ensure that Parliament assists the government in finding a lasting solution to this,” he added.  

He also indicated their preference for the case to be made a civil one, instead of a criminal case; to enable them to lead the prosecution themselves.

“The outcome of this criminal case is 80% to 90%; either he’s found guilty, he goes to jail and nothing is said about our money or when he is innocent he’ll come back, then we still use the civil route to get our monies and that’s what we are suggesting to the government,” he added.


Nearly three years ago, the Attorney-General commenced the prosecution of Menzgold’s Chief Executive Officer, Nana Appiah Mensah.

He is accused of defrauding thousands of customers through his gold dealership firm over millions of cedis.

Yet not a single ‘victim’ has testified in the case, which has witnessed more than 20 adjournments.

Meanwhile, some sources within the AG’s office say there are aspects of the case that require fine-tuning, hence, the delay.


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