Gov’t must retrieve our locked up cash – Menzgold customers

Customers of Gold dealership company, Menzgold want the government to focus on retrieving their monies for them instead of the criminal prosecution of the CEO, Nana Appiah Mensah.

According to the customers, the prioritization of the prosecution over the retrieval of their locked up investments is insensitive.

The embattled CEO is on trial for two counts of abetment to defraud by false pretences and two counts of abetment to carry out banking business without license contrary to section 6(1) of the Banks and Specialized Deposit-taking Institutions Act,  2016 (Act 930).

Reacting to this move at a press conference, spokesperson for the aggrieved customers, Frederick Forson called on the government to focus on retrieving their monies.

“A joint committee comprising CACM nominated representatives and consultants, Parliament, Menzgold management and governing agencies with compelling or statutory powers to work towards arbitration process and disbursement of payments to customers.

“We are really uncomfortable and alarmed that NAM 1 has been remanded for two weeks, despite the fact available of the true status of NAM 1. The state has the power to delay criminal charges against NAM 1 and rather work to ensure that thousands of citizens whose investments are locked up are paid within the shortest possible time.”

Some aggrieved customers of Menzgold have taken legal action against the company and its CEO to retrieve their monies from Menzgold.

The company has for nearly a year ben unable to meet its contractual agreement with its many customers whom it promised dividends when they purchase gold collectables from Menzgold’s sister company Brew Marketing Consult and invested it with Menzgold.

Following months of detention in Dubai in a case of fraud brought against him by a Dubai-based company, Menzgold’s boss, Nana Appiah Mensah returned to Ghana on Thursday and was immediately taken to the Criminal Investigations Department of the Ghana Police Service for interrogation as an INTERPOL Red Alert had been issued on him while he was in the Emirati country.

He was subsequently put before court on Friday and remanded to Police custody for two weeks.

NAM1 is on trial for two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without a licence, contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).

NAM1 has been accused of defrauding his customers of about GHc1.68 billion.

According to the charge sheet sighted by citinewsroom.com, the money was from 16,001 people who invested a total of GHc1,680,920,000 in the company.

 

 

 

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