Trending GH: Better late than never, you can correct your wrongs – Ghanaians to NAM 1

Presently, Nam1 is on the run,

It’s been an arrangement of occasions; dramatization, tumult, contentions in the previous couple of months and weeks following a request by the Securities and Exchange Commission (SEC) requiring the suspension of tasks of gold exchanging firm, Menzgold Company Ltd.

It’s Chief Executive Officer, Nana Appiah Mensah (NAM 1) has from that point forward been in ‘hot waters’ as his hardships have progressively duplicated. From unpretentious dissents from distressed clients to mighty exhibits and open dangers.

Presently, he is on the run, with the Ghana police uniting with the International Criminal Police Organization (Interpol) to give him a hot pursue.

A warrant from an Accra Circuit court has been issued for his capture and he is on the ‘red alarm’ rundown of Interpol.

With all these occurrence, GhanaWeb looked to survey in the perspectives of the normal Ghanaian on the whole issue; challenges from clients, NAM 1’s getaway and consequent warrants from the police benefit.

While some concur that the court completed a fabulous activity capturing the ‘runaway’ Boss, others trust it was a significant pointless move, the request for his capture and that of different Directors of the organization.

Some others held the view that however the circumstance is at an exceptionally critical stage, NAM1 can generally make up for himself by meeting clients and dealing with issues fittingly.

“It’s a business that he was doing and in each business, it is possible that you lose or gain, it’s a rupture of agreement that occurred so perhaps the clients ought to have coordinated with him and he shouldn’t have fled, he ought to have met with his clients and given them a clarification that can meet their standard seeing so they can give him an opportunity to settle them gradually”.

“It’s past the point of no return however preferred late over never… .”, another said.

A segment of others trust this entire Menzgold issue is the thing that it is presently simply because a couple of ‘avaricious’ people couldn’t deal with their issues and unquenchability.

Significantly more imagine that NAM 1’s benefits ought to be distinguished and sold so the monies are recovered and used to pay the disappointed clients.

“In the event that his properties can be sold to satisfy the general population whose cash are secured up Menzgold, fine,” one of the general population said.


An Accra Circuit court on Wednesday January 9, 2019, issued a request for the capture of the Chief Executive of Menzgold, Nana Appiah Mensah, prominently known as NAM 1, just as all Directors of the organization for the offense of cheating by misrepresentation which is in opposition to Section 131 of the Criminal Code, 1960 (Act 29).

The warrant to capture which was marked and issued to the police in regard of four fundamental executives of Menzgold had warrant number 01/19, 02/19,03/19 and 04/19, requiring the police to find and capture promptly four people; Nana Appiah Mensah, Rose Tetteh, Benedicta Appiah, and Abigail Mensa.

The other three whose names showed up on the warrant report were recorded on the enlistment archives of Menzgold Ghana as Directors and are likewise relatives of Nana Appiah Mensah who is the primary designer of Menzgold. Rose Tetteh is his better half while Benedicta Appiah is his more youthful sister and Abigail Mensah additionally his more youthful sister.

As indicated by Section 131 of Act 29, “Whoever swindles any individual by any misrepresentation will be liable of a second-degree crime.”

Beginning of the Menzgold emergency

The Company’s issues started on September 7, 2018, after the Securities and Exchange Commission (SEC) guided it to suspend its gold exchanging tasks.

The mandate, as indicated by SEC, depended on the ‘reality’ that Menzgold had been managing in the buy and store of gold collectables from general society and issuing contracts with ensured comes back to customers without a legitimate permit from the Commission.

The move, SEC clarified, was in repudiation of “Area 109 of Act 929 with outcomes under Section 2016 (I) of a similar Act.”

The organization was, in any case, permitted to proceed with its “different organizations of measuring, acquiring gold from little scale diggers and fare of gold.”

The order caused freeze among Menzgold Ghana Limited’s various customers, who subsequently assaulted the workplaces to request their ventures.

Be that as it may, for a few days, the board of Menzgold neglected to persuade its customers to acknowledge a proposed 15 percent introductory installment on their principals.

Shortlived Normalcy

It was later assembled in November 2018, that ‘commonality’ had come back to Menzgold, with the organization said to have totally satisfied around 30 percent of its customers.

Yet, the truth has been that the organization can’t pay its clients who are currently obviously turning their dissatisfactions on the administration for their very own willfulness.

A portion of the oppressed clients have been blaming President Akufo-Addo, previous President Kufuor, the National Chief Imam, Sheik Nuhu Sharubutu and the Asantehene, Otumfuo Osei Tutu II, for their quandaries. They guarantee that the photos of Nana Appiah with these essential identities gave the feeling that he was completing a genuine business.

Unlawful Activities

What’s more, after the arrangement of examinations, BoG saw that the exercises of Menzgold added up to, in addition to other things, “taking part in unlawful store taking in opposition to area 6(1) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930).”

It included that its exercises likewise added up to “taking part in unlicensed mineral action in opposition to segment 99(1) of the Minerals and Mining Act, 2003 (Act 703), taking part in unlawful capital markets movement in break of area 109 of the Securities Industry Act, 2016 (Act 929), and a privately owned business welcoming the general population to store cash or put resources into its business in rupture of segment 265 of the Companies Act, 1963 (Act 179) and segment 207 of Act 929.”

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