In the wake of ongoing demands for justice from victims of his alleged Ponzi scheme, Nana Appiah Mensah, also known as NAM1, the Chief Executive Officer of the now-defunct Menzgold, has made a startling statement.
During a discussion on a Twitter space on Sunday, July 20, 2023, he declared himself the ultimate loser in the entire controversy, emphasizing that he has lost everything, including all his properties.
“If you want to crown the biggest loser in all of this thing, I am the one because I lost everything: I lost all my properties and I don’t even have a car of my own in this country,” he revealed.
NAM 1’s comments came as he responded to criticisms from customers who expressed dissatisfaction with the decision to charge them GHC650 for verification before they could access their locked-up funds.
These disgruntled customers voiced their concerns about Nana Appiah Mensah, accusing him of lacking empathy, being untruthful, and gaslighting.
The Menzgold saga began when the Securities and Exchange Commission (SEC) shut down the gold dealership firm in September 2018.
The company had been running an investment scheme that promised impressive monthly returns, ranging from 7% to 10%, to its clients. However, SEC contended that Menzgold was operating outside the bounds of its license.
Following the collapse of Menzgold, NAM1 found himself facing criminal charges. Nonetheless, critics have raised concerns about the prolonged nature of his trial, which is yet to fully commence.
The Menzgold case remains a contentious issue, with victims seeking restitution for their lost investments and a resolution to the legal proceedings.