“I was envious of my wife’s MenzGold returns” – Aggrieved customer

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A customer of the embattled gold trading firm, Menzgold, has recalled how he was forced to join MenzGold due to the returns  enjoyed by his  wife, who happened to be a staff and  an investor with Menzgold.  

On September 12, 2018, the SEC first told Menzgold to stop gold trading operations with the public.

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

In a letter dated September 7, SEC said it has thoroughly investigated the activities of Menzgold and has found that, the Nana Appiah Mensah-owned firm does not have the license to trade in gold collectibles from the public.

After numerous agitations and demonstrations by the investors, an Accra Circuit Court yesterday Wednesday 9th January, 2019 issued a warrant for the arrest of embattled businessman Nana Appiah Mensah after his investment company, Menzgold, failed to refund client’s monies despite agitations,

NAM-1, as he is popularly called, is wanted for defrauding by false pretense. He is also wanted for money laundering.

Speaking to Kaakyire Ofori Ayim on Atinka AM Drive, Culture B, an aggrieved customer whose money has also been locked up with the gold trading firm, stated that he was adamant to the cautions of BoG and SEC due to the juicy information released by Menzgold after each caution.

“I joined MenzGold in 2017 and I joined  it because my wife was working and investing at Menzgold and was always bringing her returns home. They were enticing and as a man who is closer to someone ripping benefits, I joined”, he added.

He noted that even on the day SEC’s directive was made public, he went to the Kasoa branch of Menzgold and people were still investing.

Akonoba Maame Gyamfua, another embattled client who has only been with the gold trading firm for four months, recounted that she only went to Menzgold to make enquiries as to whether or not the gold trading firm was taking deposits but ended up signing up for the gold trading due to the juicy information she got form MenzGold.  

Ghana | Atinkaonline.com | Vivian Adu Boatemaa