{"id":686467,"date":"2019-08-20T11:20:54","date_gmt":"2019-08-20T11:20:54","guid":{"rendered":"<br><div>\n\t\t\n<p><strong>Nana Appiah Mensah<\/strong> <strong>aka NAM1<\/strong><\/p>\n\n\n\n<p>Nana Appiah Mensah, aka NAM1, Chief Executive\nOfficer (CEO) of gold collectible firm, Menzgold Ghana Limited, whose\noperations have been put on hold, appears to be set"},"modified":"2019-08-20T11:20:54","modified_gmt":"2019-08-20T11:20:54","slug":"im-in-pain-govt-should-help-me-says-nam1","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/08\/20\/im-in-pain-govt-should-help-me-says-nam1\/","title":{"rendered":"I\u2019m In Pain! Gov\u2019t Should Help Me &#8211; Says NAM1"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Nana Appiah Mensah<\/strong> <strong>aka NAM1<\/strong><\/p>\n<p>Nana Appiah Mensah, aka NAM1, Chief Executive<br \/>\nOfficer (CEO) of gold collectible firm, Menzgold Ghana Limited, whose<br \/>\noperations have been put on hold, appears to be setting some rules for the government<br \/>\nin his quest to pay back the huge investments he received from his customers.<\/p>\n<p>At the well publicized news conference in Accra<br \/>\nyesterday, with massive police presence, NAM1 said he wanted the government to help<br \/>\nhim retrieve Menzgold\u2019s supposed $39 million from his business partners in<br \/>\nDubai.<\/p>\n<p>Besides, he asked the government to unfreeze<br \/>\nhis personal accounts and that of Menzgold, as has been ordered by a court<br \/>\nfollowing EOCO\u2019s application.<\/p>\n<p>Furthermore, he asked government to indicate<br \/>\nclearly which institution in Ghana should be in charge of the supervision of<br \/>\ngold trade even though the rules are clearly defined.<\/p>\n<p>NAM1 stated that the assistance from government<br \/>\nwould help his company (Menzgold) to pay its numerous customers.<\/p>\n<p>He thanked government and the regulator \u201cfor<br \/>\nnot sparing the rod and spoiling the child.\u201d<\/p>\n<p>In Pain<\/p>\n<p>He said he was living in \u2018excruciating pain\u2019 after<br \/>\nsaying he suffered blood clots in his pelvic area due to his nine-month<br \/>\ndetention in Dubai and later in Ghana.<\/p>\n<p>No Escape<\/p>\n<p>NAM1 asserted he did not escape from Ghana as<br \/>\nclaimed. He said he travelled to a lot of countries to collect debts owed to<br \/>\nMenzgold but had a legal issue in Dubai, adding \u201cI went to seven countries<br \/>\nin Africa all in the pursuit of debt recovery.\u201d <\/p>\n<p>According to him, the EOCO bail had no travel<br \/>\nban and disclosed that the day before he could leave Ghana he visited EOCO and<br \/>\neven signed there.<\/p>\n<p>Ponzi Scheme<\/p>\n<p>Asked about whether he was perpetrating fraud<br \/>\non his customers, NAM1 said \u201cI seek the approval of God and not that of<br \/>\nman,\u201d before denying that Menzgold was set up as a ponzi scheme as has<br \/>\nbeen alleged. He gave an assurance that he would redeem the image of the<br \/>\ncompany.<\/p>\n<p>He said despite the troubles including legal<br \/>\nchallenges, Menzgold \u201cis on the path to greatness and global prominence.\u201d<\/p>\n<p>He stated that Menzgold staff and management<br \/>\n\u201cwear their loss as a badge of honor,\u201d declaring confidently that \u201cwe<br \/>\nshall succeed!\u201d<\/p>\n<p>Missionary &amp; Mercenary<\/p>\n<p>NAM1 slammed his critics who felt he is<br \/>\nharbouring political ambition, saying \u201cI have no political ambition. I am<br \/>\na missionary, not a mercenary.\u201d<\/p>\n<p>He appeared to justify his actions when he likened<br \/>\nthe rise of Menzgold to the likes of Facebook, Uber, Snapchat, which he claimed<br \/>\nhad to break rules from their humble beginning.<\/p>\n<p>According to him, Menzgold\u2019s subsidiary,<br \/>\nZylofon Media, was not in competition with any organization in Ghana because<br \/>\nfor him its operations were centered on Information Technology (IT) and media.<\/p>\n<p>\u201cOur competitors are not in Ghana; they<br \/>\nare far away in the Silicon Valley, California,\u201d he boasted.<\/p>\n<p>Dead Customers<\/p>\n<p>A Menzgold customer named Timothy Enoch, who<br \/>\nwas at the news conference, said to NAM1 that about 23 customers are dead and<br \/>\nmore are bedridden as a result of Menzgold\u2019s inability to release their<br \/>\ninvestments to them.<\/p>\n<p>\u201cWe can say on record that 23 customers<br \/>\nhave died. Most of them too are bedridden,\u201d the supposed customer said<br \/>\nwithout any proof.<\/p>\n<p><strong>Dubai Troubles<\/strong><\/p>\n<p>NAM1 was in jail in Dubai from December last<br \/>\nyear until July after he was detained there purportedly on a gold business<br \/>\ntrip.<\/p>\n<p>He was brought into the country by Dubai<br \/>\nInterpol and handed over to its counterpart in Ghana in July 12.<\/p>\n<p>Upon his arrival, he was arraigned at a Circuit<br \/>\nCourt in Accra for allegedly defrauding some 16,000 people who invested a total<br \/>\nof GH\u00a21,680,920,000 in Menzgold.<\/p>\n<p>The said investments have been locked up and<br \/>\nthe customers have not relented in putting pressure on the authorities to get<br \/>\ntheir monies back even though some of the regulators have said Menzgold was not<br \/>\nregistered to do that kind of business it was engaged in.<\/p>\n<p><strong>Full Charges<\/strong><\/p>\n<p>The businessman, together with his wife Rose<br \/>\nTetteh and his sister Benedicta Appiah, both of whom are at large, were then<br \/>\nslapped with a total of 13 counts of defrauding by false pretences, money<br \/>\nlaundering, abetment and carrying on deposit-taking business without licence.<\/p>\n<p>His companies \u2013 Menzgold Ghana Limited and Brew<br \/>\nMarketing Consult Limited \u2013 have also been charged with seven counts of<br \/>\ndefrauding by false pretences, and carrying on deposit-taking business without licence.<\/p>\n<p><strong>Plea &amp; Bail<\/strong><\/p>\n<p>NAM 1 pleaded not guilty to all the charges and<br \/>\nthe court presided over by Jane Harriet Akweley Quaye initially granted him<br \/>\nbail to the tune of GH\u00a21 billion (about $185 million) with five sureties, three<br \/>\nof which were to be justified and was ordered by the court to report to the<br \/>\npolice every Wednesday.<\/p>\n<p><strong>Harsh Bail Conditions <\/strong><\/p>\n<p>He was, however, unable to meet the terms of<br \/>\nthe bail and was in police custody until August 6 when his lawyers applied to<br \/>\nthe court to vary the terms of the bail.<\/p>\n<p>The court maintained the sum of GH\u00a21 billion but removed the condition of three of the five sureties to be justified and he was subsequently able to go home from the custody of the police.<\/p>\n<p><strong>By Melvin Tarlue <\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nana Appiah Mensah aka NAM1 Nana Appiah Mensah, aka NAM1, Chief Executive Officer (CEO) of gold collectible firm, Menzgold Ghana Limited, whose operations have been put on hold, appears to be setting some rules for the government in his quest to pay back the huge investments he received from his customers. At the well publicized [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":686468,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-686467","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>I\u2019m In Pain! Gov\u2019t Should Help Me - Says NAM1 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/08\/20\/im-in-pain-govt-should-help-me-says-nam1\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"I\u2019m In Pain! 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