Menzgold set to actively make payments - NAM1 to angry customers

The Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah has said that his beleaguered company will soon start paying its customers.

Menzgold boss Nana Appiah Mensah, aka NAM1

In an Instagram post, NAM1 as he is popularly referred to warned Menzgold customers to beware of agitators and rumourmongers.

He said he had listened to some voice notes allegedly from the Coalition of Aggrieved Customers of Menzgold (CACM). He asked those circulating the voice notes to stop since it will only make their situation worse.

“Listened to misleading CACM voice notes in circulation. Beware of demagogues. Think first of your economic interests. Menzgold is preparing actively to soon commence payments. Don’t muddy the waters. It would only disadvantage us all. Have a Blessed Morning.#GhanaShallProsper.”


NAM1 arrived in Ghana on July 11, 2019, after he faced a lawsuit in Dubai. When he arrived in Ghana, he was picked up by security operatives at the Kotoka International Airport (KIA) and sent to the Criminal Investigations Department (CID) of the Ghana Police Service for questioning.

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

The earlier charge sheet indicated that the money was from 16,000 people who invested a total of GHc1,680,920,000 in the company.


NAM1 has been accused of defrauding about 16,000 people of GH¢1.68 billion with the excuse of investing their monies.

The earlier charge sheet also indicated that Mr Appiah Mensah’s two companies — Brew Marketing Consult and Menzgold Ghana Limited; represented by him, have also been charged with defrauding by false pretence, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29).

The State also charged Mr Appiah Mensah’s sister and his wife, Benedicta Appiah and Rose Tetteh respectively, with 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 Act 930.

The charge sheet explained that the accused persons purportedly aided Brew Marketing Consult and Menzgold to defraud the customers.


However, the State has amended the charges brought against NAM1 in the criminal trial he is facing. The charges increased from 16 to 61 counts.

They include defrauding by false pretenses, abetment to defraud by false pretenses, carrying deposit business without a licence, abetment of sale of minerals without a licence, sale of minerals without a licence, abetment to the unlawful deposit-taking, unlawful deposit-taking and money laundering.

Meanwhile, the lawyer for NAM1 has asked the State to provide the list of the alleged 16,000 complainants who claimed that they have been defrauded by his client.

Lawyer of NAM1, Kwame Akuffo during an earlier court hearing said that he will demand the state to list all the 16,000 persons who are said to be complainants in the case brought by the state.


NAM1 is on a GHC1 billion bail granted by the circuit court and is expected to return on the 23rd of October 2019.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!


Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or: