Release NAM 1; we want our monies – Menzgold customers

Irate customers of Menzgold Company Limited are accusing government of conniving with Chief Executive Officer of the embattled gold dealership firm to “steal and share” their investments.

According to the customers, Nana Appiah Mensah, popularly known as NAM 1 must be released for him to settle their locked up investments.

NAM 1 was on Friday morning remanded into police custody after he appeared before court.

He is to reappear in court on July 26, 2019.

The court granted the order after the police requested for two weeks to enable them complete investigations into allegations against NAM 1, as he is popularly known.

About GH¢200 million of depositors cash is believed to be held up at the collapsed gold dealership firm Menzgold.

Menzgold folded up last year after the Securities and Exchange Commission (SEC) ordered it to suspend its operation with the public. Several efforts by the customers targeted at the company to get their monies have failed to yield any positive results.

According to the Commission, Menzgold did not have the license to trade in gold collectibles and that doing so was in contravention of the Securities Industry Act, 2016 (Act 929).

The collapse of the gold trading firm had been blamed on the directive.

Addressing a press conference on Wednesday, the PRO of the Coalition of aggrieved Menzgold Customers, Fred Forson stated that they will do everything possible to retrieve their locked up cash from Menzgold.

“We want to hear from NAM1, we have supported him all this while and it is time we hear from him…we want to demand from the CID that we want to meet Nana Appiah Mensah in person. Wherever he is, he needs to address us as leaders of Menzgold customers.

“If it is not a deliberate attempt on the part of the government to shield and protect Nana Appiah Mensah to loot and create and share our investments, then this is the time that the government should be transparent…and let us know what is happening with our investments.”