In an interview with TV3, the respected investment banker said there is no way customers of Menzgold will get their investments back.

As for the people who have lost their monies, it is unfortunate, they may not get it back. If they get something back, then it probably would be from the generosity of the state.

He opined that unless out of sympathy the government decides to pay them their locked-up funds, they should not think of being able to recover their cash.

Mr. Thompson added that Menzgold was an obvious scam and further wondered how people were lured into this trap.

It was such an obvious scam and I don’t know how we allowed it to happen. And I am not sure it would not happen again,” he said.

He added, “it was almost as if the messiah had come and was changing peoples’ lives. Whenever these things happen, it derails the trust people have in the financial system.”

Mr. Thompson however, decried why nobody has been prosecuted in this massive scam.

It is such a shame that two years on, people are still walking. Nobody has been prosecuted, Nana Appiah Mensah is probably living in luxury in his mansions and other properties that are left,” he said.