‘At least 100’ arrested as police snuff out Menzgold agitations at NAM1 residence

Waves of arrests have been made at the residence of embattled Menzgold boss Nana Appiah Mensah as furious clients lay siege demanding refund of their investments.

Drive away from the premises of the plush Trassaco residence in Accra, the customers bussed in from across the country say they have been decieved.

Loaded in the bucket of two Police Pick-ups, the remonstrating customers looked dejected with one woman upstanding and violently gesticulating.

The arrest effectively snuffed out a picketing movement of furious customers who say their CEO lied in a release that said some 200 customers have been paid.

A client who says he traveled from Kumasi for Wednesday morning picket explained all their checks at the various branches in Accra, Kumasi and Tarkwa found no one testifying to receiving payments.

He said he put in 120, 000 cedis after he lost his job at the Tarkwa gold mines in the Ashanti region.

Menzgold runs a business model that promised between a 7-10% monthly return on gold-backed deposits.

But their operations were busted after the Securities and Exchange Commission said the popular company had no licence.

Since that announcement in October 2018, clients of the company have turned on Nana Appiah Mensah, known as NAM1.

Reacting to the arrest, the Accra Regional Director of Operations at the Greater Accra Regional Police Command, ACP Kwesi Ofori siad, the group (customers) did not inform them (police) of their plans

According to him, they (customers) were arrested for disobeying the public order act.