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NAM 1 Returns Home Today

Embattled businessman company Limited, Nana Appiah Mensah, aka NAM 1 is reported

to arrive in Ghana today, Thursday, January 17, 2019.

According to a report sighted on Adomonline.com, the government delegation in

Dubai have reached an agreement with the Emirati authorities for his release.

A high powered government delegation went to Dubai to press for the extradition of Chief

Executive Officer of Menzgold, NAM 1.

The delegation includes Deputy Attorney General, Joseph Dindiok Kpemka, a representative

from the Economic Organised Crime Office (EOCO), the Bureau of National Investigation

(BNI) and National Security.

This was after it emerged that, he has already been arrested in the United Arab Emirates

(UAE) capital on December 7 after “a gold deal gone wrong.”

READ:https://www.ghafla.co.ke/gh/top-10-most-expensive-hotels-in-the-world-2018/

Nana Appiah Mensah is also wanted for defrauding by false pretense and an allegation

of money laundering after his company failed to pay customers investments.

The report further adds that, aggrieved customers can now heave a sigh of relief after

the source in Dubai told Ekosii Sen host, Osei Bonsu government has been able to strike

a deal with the government of the Emirates to bring NAM 1 to Ghana to face justice.

NAM1 nabbed in Dubai more than one month ago;

It has emerged that Ghana’s most wanted man, Nana Appiah Mensah, has been in the

custody of Dubai police for at least one month.

The fugitive was arrested on December 7, 2018, a police statement said.

This is even before an Accra Circuit Court issued a warrant for his arrest January 9, 2019

and also alerted Interpol which has presence in 194 countries.

Nana Appiah Mensah is wanted for defrauding by false pretense and alleged money laundering.

This was after his company Menzgold failed to pay thousands of clients’ returns on their investments.

There has been agitation from clients since September 2018 when the Securities and

Exchange Commission ordered his company to shut down its so-called gold trading operation.

At Menzgold, clients buy what is now known as fake gold from another company owned

by the embattled businessman, Brew Consult and deposit the collectibles with Menzgold.

They are promised 7% to 10% monthly returns described by investment experts as risky

and unsustainable.

Menzgold after months of hesitation is now being called a Ponzi scheme.

The emboldened description of the once-glamorous brand has set frightened customers

fearing their investments have gone down the drain.

State security arrested Nana Appiah Mensah or popularly, NAM1. But even this arrest

was not known until news of his escape broke last week.

NAM1 was on a self-recognizance bail but still managed to elude security to travel to

Dubai – a feat that has fed fledging conspiracy theories.

The arrest in the United Arab Emirates, a member of Interpol, is however for a different

incident albeit the same gold-trading business.

It is alleged the socialite and high-flying businessman was engaged in a “business gone bad” in Dubai.

In essence, NAM1 has also been linked to a criminal offence in another jurisdiction.

If UAE authorities are to press charges, NAM1 may not come to Ghana to face the law.

The government is expected to push for the release of the 34-year old Ghanaian.

According to the police statement, Ghanaian officials have paid the suspect a visit in Dubai.

But the statement makes no comment about whether the visit was before the warrant was issued or after.

Credit:Adomonline.com

Govt Rules Out Bail-Out For Menzgold Customers

Government has no intention of bailing out customers of beleaguered investment company, Menzgold.

Minister of Information, Kojo Oppong Nkrumah has urged the customers to follow

appropriate legal processes to get their monies back.

His comment follows growing calls by some customers for compensation from government

if Menzgold fails to refund investments.

Scores of disgruntled customers of Menzgold from across the country on Tuesday January 8,

2019 converged in the Ashanti Region to stage a demonstration to demand their locked-up investments.

READ:https://www.ghafla.co.ke/gh/67789-9/

They burnt car tyres and blocked roads linking Adum and Amakom, both suburbs of Kumasi,

a situation that resulted in hours of gridlock. The angry customers also defied a warning by the Ashanti regional police not to go ahead with the protest.

Speaking on Asempa FM’s Ekosii Sen programme Tuesday, Kojo Oppong Nkrumah blamed

the customers for not dong due diligence before investing their monies.

He cited how the customers of Menzgold ignored warnings of Securities and Exchange

Commission to buttress his point.

The only out, Hon. Oppong Nkrumah said is for the aggrieved customers to seek legal redress.

Source:Adomonline.com

Stonebwoy Told Us Our Investment At Menzgold Was Safe – Angry Clients

Some group of angry clients of gold dealership firm, Menzgold, have embarked on a

demonstration against the company on Tuesday, 27 November 2018.

According to these angry clients, they can no longer watch their investments to be locked up

at the firm whiles they struggle to feed themselves.

They revealed that they are fed up of their daily excuses given them by management of the firm.

Some of the also revealed that they were convinced their investments were safe due to

assurances by Ghanaian dancehall artiste and Zylofon Media signee Stonebwoy.

An aggrieved customer, who participated in a demonstration against the company said

the words of the Stonebowy convinced him that all was okay.

However, after several months of promises to pay them 15 per cent of their locked-up

investment principals, the company has failed to live up to expectation.

“I remember Stonebwoy promised us that our money was safe,” the angry customer said

during the demonstration.

He also criticized musician Becca and other ambassadors of Menzgold for keeping quiet

about the plight of the customers whose investments have been locked up.

A few months ago, Stonebwoy, who is one of the top artistes signed by Zylofon Media, also

owned by the CEO of Menzgold, Nana Appiah Mensah, urged the customers to stay calm

since the operations of the company will soon return to normal.

“I urge all members of Menzgold to keep calm and take it easy because the situation is under control and your gold deposits are safe and secure,” he said.

Scores of the angry customers marched through the principal street of Accra starting from the

Obra Spot and ending at the Accra Hearts of Oak Park.

The customers have therefore pleaded with the government to intervene to get Menzgold

to refund their investment.

Another aggrieved customer, Obeng-Mensah told Class News’ in an interview during the demo that;

 “We are demonstrating against Menzgold in particular and pleading with the government to intervene. We’ve had a contractual agreement with Menzgold and there is this issue of the Bank of Ghana and the Securities and Exchange Commission (SEC) that came to shut down the company.

“We became loyal to Menzgold and expected them to pay us our money. Initially we agreed they cancel the interest and pay us our principal investment within 90 days but for three months now, there has not been any payment. None of the customers of Menzgold has received their money but Menzgold is going about deceiving that they are making payment.”

Another demonstrator pleaded with the Akufo-Addo government to intervene to ensure

that the company pays them their principals.

Watch video below for more;

Menzgold Shut Down Not Good For Ghanaians – Stonebwoy

Burniton(BHIM) Nation boss, Stonebwoy has lamented over the current saga of the investing company Menzgold.

According to the Zylofon Music signee, the current controversies surrounding the company is not good for Ghanaians.

He further added that the development worries him because he is not happy about

the effect it is having on Ghanaians.

He told KOD on the ‘Zone’ on Starr FM Tuesday that;

“from a Ghanaian point of view, a layman point of view, who just has seen an opportunity by a Ghanaian for a Ghanaian from a Ghanaian, and being affected, we are affected, and it is not good for us“.

Stonebwoy however praised the Menzgold CEO, Nana Appiah Mensah for the Zylofon dream.

Meanwhile, the gold Firm has said it has commenced efforts to pay premiums of all

customers in the next three months.

The firm has however scrapped the payment of dividends as was the situation until its

impasse with regulator the Securities and Exchange Commission.

Menzgold in a statement Monday said it will begin the payment of the staggered premiums

today Tuesday October 9, following an agreement with customers and other stakeholders.

“Menzgold Ghana limited noting that the principal concerns of its customers is for the return of their primary value of gold traded with company, has agreed and proposes to pay and return to every customer the full value of gold traded, in 90 days commencing Tuesday October 9,” the company said in a statement.