Menzgold Saga: Coalition of Aggrieved Customers Cautioned Against Falling Prey to NAM 1’s Alleged New Scheme
The Coalition of Aggrieved Customers of Menzgold (CACM) Ghana has issued a stern caution to its members, advising them to exercise vigilance and not succumb to what they perceive as another potential scheme orchestrated by the CEO of the now-defunct Menzgold, Nana Appiah Mensah, commonly known as NAM 1.
The coalition is alerting its members to the possible intent of NAM 1 to deceive them yet again.
In an official statement released on Friday, August 11, 2023, the coalition shed light on the unfolding situation. Victims who had their funds locked in Menzgold are purportedly being solicited to purchase scratch cards at a cost of GHC600 each, with the promise of gaining access to their trapped investments. The coalition’s leadership, however, contends that this development is a calculated maneuver by NAM 1 and his associates to further exploit individuals who are already grappling with financial hardships due to their frozen funds.
“We are also cautioning our members not to buy access cards from Menzgold or its agents in order to obtain the so-called validation data. Our investigations reveal that neither Menzgold nor Payboy has conducted any validation process. This appears to be a meticulously devised strategy concocted by NAM 1 and his affiliates to deceitfully extract money from unsuspecting customers,” the statement emphatically outlined.
The coalition’s statement further challenges the legitimacy of the validation exercise undertaken by NAM 1 without the oversight or endorsement of any reputable state agency. The coalition contends that the third-party entity enlisted by NAM 1 for this purpose lacks credibility, especially given its CEO’s ongoing legal entanglements relating to alleged fraudulent activities.
“We also reject the so-called validation, which was singularly orchestrated by Mr. Nana Appiah Mensah and Menzgold without the involvement of any established state authority. It’s crucial to highlight that Menzgold and Brew Marketing Company Ghana Limited were subjected to closure by a state agency. Moreover, the CEO is presently embroiled in a criminal trial. Such a scenario cannot be construed as a legitimate validation initiative. Payboy, a company implicated in dubious activities, is involved as well. This company exploited customers in 2020 under the pretense of assisting them in retrieving their funds from Menzgold, yet it turned out to be another questionable venture spearheaded by NAM 1,”
the statement elaborated.
In light of these circumstances, the coalition is urging its members to exercise restraint and refrain from engaging with the stipulated requirements. Their directive seeks to shield customers from becoming ensnared in what they perceive as another potentially fraudulent undertaking orchestrated by NAM 1 and his associates.
This cautionary message underscores the coalition’s commitment to safeguarding its members from financial harm and deception, reinforcing the importance of collective vigilance during uncertain times.