Defunct gold dealership firm, Menzgold Ghana Limited, has announced plans to pay aggrieved customers from December 20, 2021.
Menzgold, in its latest statement of promise, said payment will run till June 30, 2022, following a final audit of documents from customers whose investment have been locked up.
“We strive to complete the final phase of our audit endeavours and shall proceed to fully publish the following in the print and digital new media; list of all paid traders paid so far and list of all final eligible traders/transactions as well as the total sum of indebtedness by Menzgold Ghana Co. Limited.
“Menzgold shall proceed to pay the final publicized list and total sum from December 20, 2021, to June 30, 2022, in our quest to give final closure to this very depressing matter and to restore our dear enviable Company’s integrity,” the statement said.
It, however, noted some of the claims made by the customers are fraudulent.
“Additionally, we have discovered shocking evidence that points to the fact that some claimants purporting to be indebted to by Menzgold transacted through third parties; some unethical Menzgold and Brew Marketing Consult staff members and in other instances via referrals, mostly close relations who took delivery of their funds under the pretext of signing them unto to the Menzgold “Gold Vault Market” but ended up engaging in the many cryptocurrency products on sale on the Ghanaian market, with a monthly return on investment (ROI) ranging between thirty and sixty per cent (30%- 60%).
“We are commencing the final phase of the audit; this session would be traders/claimants interviews to fully ascertain facts and satisfy ourselves with regards to questionable adverse discrepancies and irregularities that characterize some transactions claims received for audit and its subsequent payment. Hence, invitations would be extended to some individuals,” the statement added.
Meanwhile, the aggrieved customers have petitioned parliament over their locked funds. They expressed dissatisfaction with the delay in recovering their funds and the pending court case where the embattled CEO Nana Appiah Mensah stands trial.
At an earlier presser, the Spokesperson for the aggrieved customers, Fred Forson, called on government to cooperate with parliament to bring closure to the matter.
“We call on parliament to investigate the closure of Menzgold including the role played by SEC and EOCO as well as the bank accounts of the CEO and board members of Menzgold and Brew Marketing Companies. The whereabouts of some 4000 kilograms of gold assets should also be investigated.
“Ghana should, as a matter of urgency, treat the unresolved Menzgold issue as an emergency national catastrophe. We call on the government in the spirit and within the wind of cooperation blowing in parliament to work closely with the august house to find an amicable solution to this conundrum that customers find themselves.
“Finding a solution will end the extinction of over a million Ghanaians whose lives and very existence have been shut with the shutdown of Menzgold,” he implored.
Progress of NAM 1’s court case since he was arrested
Nana Appiah Mensah was first arraigned before an Accra Circuit Court on Friday, July 12, 2019, after months of detention in Dubai.
He was remanded for two weeks to reappear on July 26, 2019, but was granted bail that same day. He was granted bail in the sum of GH¢1 billion, with five sureties.
The trial was then set to continue in August. On August 12, 2019, the prosecution said investigations were ongoing.
There was no show on October 23, 2019, as the substantive prosecutor ASP Slyvester Asare was not present in court.
He had written formally to inform the court and prayed for an adjournment.
On November 20, 2019, state prosecutors again pleaded with the circuit court judge for a long adjournment in the trial of the Menzgold CEO.
ASP Asare told the court the state would prefer January 2020 to commence the trial of the embattled businessman and his wife Rose Tetteh and his sister Benedicta Mensah. The two accomplices are still at large.
On December 23, 2019, the case was adjourned when the prosecutor informed the court that it had sent the docket to the Attorney-General’s department for study and advice.
On March 5, 2020, Madam Evelyn Asamoah, who was unhappy with the prosecution’s handling of the case, said she would be forced to discharge the accused persons.
An excited NAM 1, who was in court, could only stifle a smile and pray the judge make good on her promise.
On April 6, 2020, the judge, however, took leave. For some reason, the judge’s leave coincided with NAM 1’s next date, leaving NAM 1 combing the streets of Accra in his Toyota Land Cruiser.
When the judge resumed in July, it was the prosecution’s time to drag their feet. They asked for more time to conduct further investigations.
The prosecutor was expected to have filed its new charges for Nana Appiah Mensah for the court to take his plea on Monday, July 20, 2020, but it did not happen.
However, the prosecutor, ASP Asare, told the circuit court that “the principal state attorney was working seriously to advise the court concerning the case” and prayed for a long adjournment.
He added that the prosecution would inform the court of its intention.
“We also ask that in the event that the adjournment is granted and advise ready, we will issue a hearing notice to the accused persons to appear before the court to do the needful,” ASP Asare stated on Monday, July 20, 2020.
But that promise never saw the light of day.
Fast forward to November 4, 2020; the case was adjourned after the clerk announced that the judge had taken leave for the second time.
“The judge [Evelyn Asamoah] is on leave, so we have been instructed to adjourn all the cases for today, [Friday],” the clerk informed court patrons.
When she resumed on December 16, last year, the court adjourned the case following ASP Asare’s plea that investigations were still ongoing.
As it stands now, the Menzgold CEO is not aware of the charges against him since the prosecution team, on June 24, 2020, withdrew the 61 charges, which included money laundering.
At the beginning of the new year, thousands of people who had fallen victim to NAM 1’s scheme hoped justice would be served to them on a plate.
But eights months into 2021, it is the same tune that has left depositors shattered while NAM 1 smiles at his Trassaco residence.
On March 2, 2021, the trial judge warned that she would strike out the case if the prosecution did not order their house. The judge again directed that the prosecution file the necessary documents to enable the trial to commence.
But somehow, the universe appeared tilted to NAM 1’s side because the judge took leave for the third time and adjourned the case to May 27, 2021.
On May 27, 2021, the prosecutor had one request – more time to build a watertight case against the embattled CEO.
He came to court to woo the judge with another adjournment speech.
“At the last sitting, my lady made the orders that prosecution files the necessary processes. Be it as it may, the prosecution is unable to file the processes on time as directed by this court. We submit that in all humility, this is not deliberate to delay or disrespect the order of this court.
“The records will show that at the last sitting, we indicated and pleaded with the court, as it is, in the interest of justice. This morning (Thursday), we are again on bended knees. Although standing, we ask that you give us the necessary ear.
“My principal (Attorney General’s office) is not sleeping on this matter. We will ensure that we file the necessary processes. We pray that in the interest of justice, my lady grants an adjournment to enable parties to put their house in order,” ASP Asare pleaded.
The trial judge conceded and adjourned to July 6, 2021.
But on July 6, 2021, NAM 1 failed to come to court due to a ‘miraculous’ cough.
The embattled businessman’s lawyer Audrey Twum who explained his absence, said, “NAM 1 has been coughing profusely and has been advised to seek medical care”.
The case was adjourned to Thursday, September 2, 2021, but the prosecutor was not present.
Lawyers for NAM 1 said the state is yet to file its processes.