Starting on October 20, 2023, former customers of the now-defunct Menzgold Limited will begin receiving their locked-up funds. The payments will be processed at the Police Head Office beginning at 9 a.m., with a commitment to giving each client’s case the utmost attention.
This development follows the Attorney General’s Office filing thirty-nine fresh charges against the troubled Chief Executive Officer of the company, Nana Appiah Mensah, also known as NAM1, along with two others. The latest charge sheet, dated August 30, 2023, under case number CR/0411/2023, was signed by the Director of Public Prosecution (DPP), Yvonne Atakora Obuobisa. These charges include selling gold without the necessary authorization, operating a deposit-taking business without a license, and inducement to invest, among others.
Additionally, there are twenty-two counts of defrauding by false pretense, seven counts of fraudulent breach of trust, and seven counts of money laundering in this latest charge sheet.
NAM1 recently revealed that Menzgold has already paid 5,000 of its customers. Initially, the company requested documentation from customers to validate their claims. However, they later clarified that many claims contained inconsistencies, making 60 percent of them ineligible for reimbursement.
Furthermore, the defunct company suggested that customers with locked-up funds enroll for a fee of 650 cedis to determine their eligibility for reimbursements.
It’s worth noting that NAM1 has entered a plea of not guilty to the charges and was granted bail in the amount of GH¢500 million.
Leave feedback about this