NAM1 told us he sponsored NPP government with our cash – Menzgold customers

President of the Coalition of aggrieved Menzgold customers, Timothy Binab has alleged that, embattled CEO of now-defunct gold dealership firm Menzgold, Nana Appiah Mensah(NAM1) told them he used part of their locked-up cash to sponsor the Nana Addo-led government.

NAM1 and Menzgold have not been able to pay back the customers’ investments since August 2018 after the Securities and Exchange Commission (SEC) ordered the company to stop operations over regulatory infractions.

On Wednesday, 8th January 2020, the aggrieved customers of the company besieged the Trasacco residence of NAM1 with the hope of getting their locked-up funds from him.



Several scores of the customers were arrested by the police for besieging the CEO’s residence and attempting to gain entry unlawfully. They were charged and granted bail later in the evening.

Speaking on the issue in an interview with Boamah Darko on Accra-based Hot 93.9FM, the President of the Coalition of aggrieved Menzgold Customers, Timothy Binab alleged that NAM1 once told them he used part of their locked-up cash to sponsor the current government. According to Mr. Binab, NAM1 didn’t reveal the exact amount he used in sponsoring the government to them:

“Nana Appiah Mensah has told us many things….Yes, he told us he once sponsored the government with our locked-up cash and most of the bigwigs in the government are also owing him but never told us the exact amount he used”.Mr.Binab told Boamah Darko

Mr.Binab in a sorrowful mood, stressed that they wouldn’t sit aloof and watch Nana Appiah Mensah deceive them any longer thus they are extremely poised to go every length in order to retrieve their cash.

Source: hotfmghana.com