Chief Executive Officer (CEO) of Menzgold Ghana Limited, Nana Appiah Mensah, has refuted media reports that he clandestinely left Ghana during his trial at the Economic and organized Crime Office (EOCO).
Addressing the media on the state of Menzgold in Accra on Monday, the embattled CEO said, contrary to media reports that he jumped bail and escaped through Togo to Nigeria, he informed EOCO before travelling.
“I signed a bail with EOCO before leaving the country, you can go and check with them, I was there that week before I travelled to seven countries in Africa all in the pursuit of debt recovery.”
According to him, the EOCO bail had no travel ban.
BACKGROUND
NAM1 has been accused of using Menzgold as a tool to defraud more than 16,000 people of GH¢1,680,920,000.
Prosecutors have accused Nana Appiah, his wife, Ms. Rose Tetteh; and his sister, Ms. Benedicta Mensah, of defrauding unsuspecting persons through a gold dealership scheme described by many as a ponzi scheme.
The three accused persons – described as the principal officers of Menzgold – along with Menzgold and its sister company, Brew Marketing Consult Limited, both represented by Nana Appiah, have been slapped with 13 counts.
The counts are defrauding by false pretenses, abetment to defraud by false pretenses, carrying deposit business without license, abetment of sale of minerals without license, sale of minerals without license, abetment to the unlawful deposit-taking, unlawful deposit-taking and money laundering.
Nana Appiah has pleaded not guilty to all the charges. His wife and sister are however reportedly at large.
Addressing the media, the embattled Menzgold boss commended the customers of the company for their patience.
“To our Menzgold customers, we note that you have experienced an increased level of anxiety and concern, but have been extremely understanding and patient with us through these trying times,” he said.
He added “We continue to recognize and respect your (the customers) sacrifice, please remember that your patience and support for us is not an entitlement, but something we earned by the way we worked with you diligently over the past years.”
According to NAM1, the patience of the customers would soon pay off.
“Together, we are very conscious of our responsibilities towards you our cherished esteemed customers and we will do everything we can to individually and collectively meet your expectations,” he noted.
NAM1 also expressed concern that the modus operandi of Menzgold, which he said had been questioned by many, “is just an act of innovation characterized by most businesses worldwide.”