Nana Appiah Mensah, also known as NAM1, has strongly urged the police to promptly return the funds he entrusted to them, which were subsequently deposited with the Bank of Ghana. This request is made due to the fact that such an arrangement was not initially agreed upon between the parties involved.
The CEO of the now-defunct Menzgold Ghana Limited said the police’s decision to deposit the amount of GH₵2.5 million at the Bank of Ghana is not in line with their previous arrangement.
He has made it clear that he intends to return to the Ghana Police and retrieve the funds that were sent to them for distribution to the customers. According to the advice given by the Office of the Attorney-General, the police received the sum of GH₵2.5 million from Nana Appiah Mensah, popularly known as Nam 1, on Friday, October 20, 2023.
This action was taken by the police in response to ongoing investigations into petitions received from customers of MenzGold Ghana Company Limited and Brew Marketing Consult Limited, which are currently being heard by the Accra High Court against Nana Appiah Mensah.
In a statement, the Ghana Police Service clarified that the money was deposited into the Police Exhibit account at the Bank of Ghana (BoG) specifically for the attention of the Court. It was emphasized that this amount is an integral part of the ongoing investigations into the aforementioned petitions.
However, NAM1 has none of that. In an interview with Starr FM, he said:
The intent was not to give money to the police to distribute. We went to the police because we wanted security. The agreement with the police was to have them provide a desk where we could distribute the money. I am surprised the money has been deposited at the Bank of Ghana. I will go back to the police and ask them to give the money back to me because that was not the arrangement we had.
After being dragged before a court on September 19 for allegedly defrauding his clients, the CEO of the now-defunct Menzgold Ghana Limited was granted bail in the amount of GHC500 million with four sureties, none of whom were found to be justified.
NAM1 recently reported that 5,000 customers have been paid by Menzgold. Before beginning the payment validation process, the company had requested all relevant documentation from customers. But in a later message, the company explained that 60% of the claims submitted contained inconsistencies, making them ineligible for settlement.
The defunct company also proposed that customers with locked-up funds enroll for a fee of 650 cedis in order to find out whether or not they would be eligible for reimbursements.
