The Chief Executive Officer of Menzgold, Nana Appiah Mensah, popularly known as NAM1, is expected to hold a meeting with his management to discuss the way forward in dealing with their clients and the operation of the company.
This is according to the company’s Public Relations Officer, Nii Armaah Amarteifio.
He said NAM1 will be given time to rest for a while because “he is tired.”
“He is tired so the next step for him now is to get some rest and after that, we will have a meeting with him as management to see the way forward,” he said.
The woes of NAM1 has seen him in various legal battles since the last quarter of 2018 when the Securities and Exchange Commission (SEC) descended on his gold dealership company and ordered him to stop taking up new clients, a move that supposedly hindered cash-flow and affected the company’s operation.
After fighting legal battles in Dubai he returned to Ghana about a month ago and has been in Police custody until yesterday [Tuesday] when he met his reviewed GHc1 billion bail conditions.
The Menzgold PRO, Nii Armaah Amarteifio told Citi News that after his boss gets some rest, a meeting will be held to among other things, outline the way forward for Menzgold and also deliberate on how customers of the company can be paid their investments.
NAM1 is still facing 13 counts of defrauding by false pretences, money laundering, abetment and carrying on deposit-taking business without licence contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).
He has been accused of defrauding his customers of about GHc1.68 billion.
According to the charge sheet, the money was from 16,000 people who invested a total of GHc1,680,920,000 in the company.
The charge sheet indicated that Mr. Appiah Mensah’s two companies; Brew Marketing Consult and Menzgold Ghana Limited have also been charged with defrauding by false pretence.
Mr. Appiah Mensah’s sister and his wife, Benedicta Appiah and Rose Tetteh, have also been charged with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without a licence, contrary to Section 6 (1) of Act 930.