Nana Appiah Mensah is CEO of defunct Menzgold
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The Coalition of Aggrieved Customers of Menzgold (CACM) Ghana is cautioning its members not fall prey to another scheme designed by the CEO of defunct Menzgold, Nana Appiah Mensah, a.k.a. NAM 1 to dupe them.

According to a statement issued Friday, August 11, 2023, victims of the Menzgold locked funds are being asked to purchase some scratch cards at a cost of GHC600 to allow them access their locked investment.

But according to the leadership of the Coalition, the development is another ploy by NAM 1 and his cohorts to drain the already impoverished customers whose funds have been frozen.

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“We are also cautioning our members not to buy access card from Menzgold or his agents to access the so called validation data. Our checks indicate neither Menzgold nor Payboy has done any validation. This is a well programmed scheme hatched by Nam1 and his associates to fraudulently extort money from unsuspecting customers,” the statement indicated.

According to the release, the group is also rejecting the validation undertaken by NAM 1 without the knowledge of any state agency in good standing. It alleges that the third party being employed by NAM 1 lacks credibility where its CEO is facing criminal charges for shortchanging people.

“We also reject so called validation which was solely done by Mr Nana Appiah Mensah and his Menzgold without the involvement of any known state reputable agency because Menzgold and Brew Marketing company Ghana limited were shut down by a State agency and the CEO, currently facing criminal trial and so it cannot purport to be doing validation on its own volition.

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“Payboy is a company that does not have any credibility. It extorted money from customers in 2020 with the pretext of assisting customers to retrieve their money in Menzgold but ended up being another questionable scheme from Menzgold CEO. CACM broke the story on 31st July 2023 that Nam1 and his people are printing scratch/access card to be sold to already impoverished customers at a fee of GHC600. On 10th August 2023, agents of Payboy, a brain child of Nam1 have started calling customers to pay GHC650 for the purchase of so called access card,” the statement explained.

They are therefore urging their customers not to make any commitment to the requirements in order not to become victims to yet another “fraudulent deals” by NAM 1 and his associates.

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