The Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah (NAM1), has assured his over 16,000 customers that his firm will pay all their locked-up investments at the least opportunity.
Addressing the press for the first time on Monday, 19 August 2019, NAM1 stated emphatically that: “All companies worldwide have liabilities on their books and, so, does Menzgold. Business, in summary, is all about owing and being owed. We, at Menzgold, are committed and do express our willingness to service our debt portfolios to our customers and business associates as soon as we can with the given opportunity”.
He has, therefore, pleaded with the government: “To unfreeze our companies’ and my personal bank accounts and assets for us to utilise these as vehicles to get productive in order to meet our liabilities owed to our customers and some business associates in our bid to resolve our liabilities immediately”, adding that: “As of now, Brew Marketing Consult, Menzgold and I cannot credit or debit any bank account in Ghana. This is why it is highly imperative to consider this kind request, as I believe the government shares in our resolve and would do all that is needful in our quest to satisfy the populace, who are our customers”.
According to NAM1, he believes the government will listen to his plea and release his bank assets accordingly so he can meet his obligations to his customers.
In the charge sheet, NAM1 is accused of defrauding one Francis Agodzie and 16,000 others of more than GHS1.68 billion.
NAM1 is facing charges of defrauding by false pretence and two counts of abetment to carry out banking business without a licence contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).
His Brew Marketing Consult and Menzgold Ghana Limited have also been slapped with charges of defrauding by false pretence contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29).
He was first arraigned on Friday, 12 July 2019 after spending the night in the custody of the Criminal Investigations Department (CID) of the Ghana Police Service following his arrival in Ghana on Thursday.
The young Ghanaian businessman had been in the custody of Dubai authorities since December last year. He was arrested during his sojourn to the Emirates to collect some hefty amount owed his company by a businessman there.
The Supreme Court of Dubai recently upheld a victory of the businessman in a lower court which ordered his Emirati businessman rival to pay the Ghanaian some $39 million and compensation.