I am coming back for my money, this isn’t what we agreed on – NAM1 to police

Chief Executive Office of defunct gold dealership firm Menzgold, Nana Appiah Mensah, otherwise known as NAM1 has said he will go back to police to seek a refund of the money he deposited to them.

According to him, he was taken aback when he heard the GH¢5 million given to the police to disburse to

Read full articleverified customers had been deposited at the Bank of Ghana for the attention of the Court.

Nana Appiah Mensah said that was not the arrangement he had with the police, therefore, would go back for his money.

In a a tweet shared by broadcast journalist, Serwaa Amihere, he said, "I am surprised the money has been deposited at the Bank of Ghana. I will go back to the police and ask them to give the money back to me because that was not the arrangement we had."

NAM1's comment comes after the police announced that the GH¢5million has been deposited in the police exhibit account at the Bank of Ghana for the attention of the court.

The police further indicated that the court will determine the disbursement of the GH¢5million to customers.

NAM1 has been slapped with 39 counts of defrauding by false pretense, engaging in gold trading without a license, and money laundering.

Meanwhile, the Attorney-General and Minister of Justice, Godfred Yeboah Dame, has said justice will be served to all Menzgold customers.

It would be recalled that in 2018, Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC).

According to SEC, Menzgold had been involved in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns to clients without a valid license from the Commission.

This was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act,” according to the SEC.


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— Serwaa Amihere (@Serwaa_Amihere) October 25, 2023