Chief Executive Officer of the now-defunct Menzgold Ghana Limited, Nana Appiah Mensah, commonly known as NAM1, claimed to have deposited GH¢5 million with the Ghana Police Service.
According to NAM1, this amount was intended for distribution to customers of the collapsed firm as part of a reimbursement process.
However, the government has refuted these claims.
The Attorney General and Minister for Justice, Godfred Yeboah Dame, addressed the issue in Parliament, stating that only GH¢2.5 million was received from NAM1, contradicting the reported GH¢5 million.
NAM1 had specified that the funds were meant for customers who successfully completed a verification process conducted by Menzgold, including those eligible for a GH¢2.5 million judgment debt.
The discrepancy between NAM1’s statement and the government’s response adds to the ongoing complexities surrounding the Menzgold saga.
The accurate amount deposited and the subsequent distribution process remain points of contention between the involved parties.
“The record I have before me indicates that an amount of GH¢2.5 million was paid, so the claim of GH¢5 million having been paid to the Ghana Police Service is untrue. It was only GH¢2.5 million that was paid to the Ghana Police Service by the accused person.”
Customers who were adversely affected by the suspension of operations by Menzgold in 2018 have been fervently demanding the release of their funds.
The company, which halted its activities in the wake of the suspension, has faced allegations of operating a Ponzi scheme.
Nana Appiah Mensah, widely recognized as NAM1, is presently undergoing trial for fraud. The legal proceedings underscore the serious accusations leveled against him and the company.
The aggrieved customers continue to seek resolution and restitution for the financial losses they experienced due to the suspension of Menzgold’s operations.