‘I am the biggest loser in Menzgold’ – NAM1

Amidst the ongoing quest for justice by the victims of the alleged Ponzi Scheme attributed to him, Nana Appiah Mensah, also known as Nam 1, the former Chief Executive Officer of the now-defunct Menzgold company, has expressed himself as the primary sufferer within the entire saga.

Addressing his sentiments during a Twitter conversation on Sunday, July 20, 2023, NAM 1 conveyed that he has experienced the most substantial personal loss due to the downfall of his enterprise, finding himself devoid of any assets at present.

“In terms of identifying the individual who has incurred the most significant setback through this ordeal, that title falls upon me. The reason being, I’ve been stripped of everything: all my possessions have vanished, and even the possession of a personal vehicle in this country eludes me,” he conveyed.

This statement from the embattled CEO was prompted by comments made by customers in the Twitter Space, expressing dissatisfaction with the decision to impose a fee of GHC650 for verification prior to the release of their frozen funds.

Several discontented customers expressed their views, characterizing Nana Appiah Mensah as lacking empathy, being untruthful, and engaging in manipulative behavior.

The Menzgold entity was compelled to cease operations by the Securities and Exchange Commission in September 2018. Prior to its eventual downfall, the company was engaged in an investment program that promised returns ranging from 7% to 10% on a monthly basis.

The SEC asserted that Menzgold had transgressed its licensing boundaries by operating outside the scope of its permitted activities.

Subsequent to the company’s collapse, NAM1 has faced criminal charges, although critics argue that the trial process, which is yet to be fully initiated, has dragged on for an extended period of time.

SOURCE: Coverghana.com.gh