Nana Appiah Mensah, aka NAM 1, has unequivocally informed the Menzgold customers who have taken legal action against him that he is not ready to concede defeat in the case.
During an interview on Starr FM this morning, NAM 1 asserted that he has not pleaded guilty in court, thereby implying that the Menzgold customers who are still entangled in legal proceedings due to his actions will not receive any compensation.
Furthermore, he emphasized that individuals who share his belief that Menzgold operated as a legitimate enterprise, one that dutifully fulfilled its obligations, will eventually receive their rightful payments.
In a statement released by Menzgold, it was announced that funds have been handed over to the police to expedite the settlement process for verified clients. In 2018, the Securities and Exchange Commission (SEC) directed Menzgold to suspend its gold trading activities with the general public.
According to the SEC, Menzgold had engaged in the acquisition and deposit of gold collectibles from the public, while also issuing contracts that guaranteed returns to clients without possessing a valid license from the Commission. This blatant violation of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act,” as stated by the SEC, led to the subsequent actions taken against Menzgold.
“Let me make a point. Now I need all the customers to note this; those that are before the court, I have pleaded not guilty. I have not entered a plea bargain to have a settlement and it is stuck fulfilling that obligation and so I do not intend to make a dime to the court because I have pleaded not guilty.
That may be disputed but for me, when I do that, it may be an admission of guilt. Before the criminal court so I don’t intend to make a dime to those that are before the court and I am talking in respect to the Menzgold customers.” he said.
He also added that those who agree with him that Menzgold was indeed a legit business, a business that was fulfilling its obligations will surely be paid soon.
“Those that are not, who agree, who recognize that Menzgold was a legal entity, conducted its business public, paid its taxes, fulfilled all statutory duties in respect to taxes and royalties to minerals commission. The customers who have submitted their documentations for claim and have allowed us to verify of which we have successfully done that in the last two months, are those that we will pay” he said
