The owner of Menzgold, the defunct gold collectibles company which was closed down by the authorities as a Ponzi scheme in 2018 has released a shocking disclaimer that potentially paralyzes any hopes that its defrauded customers would get back their stranded funds.
According to Nana Appiah Mensah, he does not owe any customer any money and that Menzgold actually owes him too.
The man who is notoriously called NAM 1 issued the disclaimer when a hapless customer of the company commented on Facebook asking to be paid by NAM 1.
“Menzgold will definitely pay you that’s if you’re truly owed by the company. I DON’T OWE YOU OR ANYBODY. This is a matter of FACT. | am actually also owed heavily by the COMPANY. We are patiently waiting. Thank You,” he wrote o Twitter.
This was in response to an accosting tweet from one Jerry_Joy_Quaye, who presented himself as a customer whose money is locked with NAM 1’s Menzgold.
Menzgold, which had operated under the guise of being a gold dealership and collectibles company was closed down by the Securities and Exchanges Commission and the Bank of Ghana in September 2020 for operating without a valid license.
The authorities had explained the company had been operating as a Ponzi scheme of sorts.
As a result of the ruffle, the company failed to pay many of its customers, promising to do so someday.
For many victims, their life savings are locked in the company. But Finance Minister, Ken Ofori-Atta has said those who got trapped in the Menzgold because they were greedy.