CEO of embattled, Menzgold, Nana Appiah Mensah, well known as NAM1, has dispelled claims that he has neglected persons he owes to sign a new artiste onto his Zylofon Music record label.

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NAM1 in a media encounter narrated that Menzgold and Zylofon are two different entities and that comparing the two is an “incredible display of intellectual deficiency or bankruptcy.”

NAM1 also noted that he is still paying customers whose investments got locked up in his defunct Menzgold company.

“As of now, we hold documentary evidence, clearly showing that we have paid over ninety-six (96) billion old Ghana cedis (GHC 9.6 M) even in our state of dormancy and continue to humbly make payments every now and then,” he wrote.

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NAM1 has for the past few days been mauled by a section of the public after an unveiling event held in Accra on June 12, 2020, to announce the signing of a new artiste, Tiisha.

People who saw videos and photos of NAM1 at the event wrote on social media that he was insensitive to the plight of the Mengzgold customers, by signing a new artiste.

In response, NAM1 stated in his latter that the only way he can pay the customers is to engage in other profitable ventures.

“In any case, if one is indebted and does not get productive, how is he or she expected to generate income to service or pay off their debt?” he asked.

The Zyfolon Music record label became moribund after their bankroller, Menzgold got closed by the Securities and Exchange Commission for not having the right documents.

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The company is therefore expected to pay off all the people whose investments got stuck at the gold dealership company.

Check out his post below:

Source: AfricaCelebrities.Com

The post Embattled MenzGold CEO Writes An Open Letter To Customers – SEE appeared first on AfricaCelebrities.Com.

An Accra Circuit Court has said all 61 charges leveled against embattled Nana Appiah Mensah and his Menzgold company will be dropped if nothing substantial come up at the next court date.

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The Court presided over by Her Honor Evelyn Mensah did not take it easy with Prosecution When ASP Sylvester Asare told the court he has been instructed by the Attorney General to seek for more time for further investigation.

Her Honor Evelyn Mensah cautioned the prosecutors not to make up such excuse in the next hearing else all charges will be dropped and the embattled CEO will walk a free man.

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The case has been adjourned to April 7, 2020.

Nana Appiah Mensah and his Gold dealership company Menzgold was charged with 61 counts including money laundry, Unlawful sales of minerals and unlawful deposit taking.

SOURCE: Africacelebrities.Com

The post Charges Against Nam1 To Be Dropped Over Lack Of Progress – Judge Says appeared first on AfricaCelebrities.Com.

Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah aka NAM1, claims he has won the $39m Appeals case in Dubai. This was announced by NAM 1 on his twitter page.

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The embattled CEO was arrested and detained in Dubai for an alleged gold fraud case after he went to chase his funds from debtors.

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He later won the case against Horizon Diamonds and the court subsequently ordered the firm to pay him $39 million, but the company went for an appeal.

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Sharing his joy on the case thrown out of court, NAM 1, who begged the government during a press briefing in August to assist him retrieve his $39m, took to his twitter page to announce his victory in the appeals case.

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“Horizon Royal Diamond DMCC’s Supreme Court review of the Menzgold acquittal and discharge, by the Dubai first instance and Appeals court has been thrown out today by the Dubai Supreme Court. We bless God,” he claimed.

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The post NAM 1 Announces Victory In $39m Appeal Case In Dubai appeared first on AfricaCelebrities.Com.

Chief Executive Officer of Menzgold and affiliate businesses, Nana Appiah Mensah, popularly known as NAM1, is in the news again.

READ ALSO: Developing Story: NAM1 Addresses The Press

This time, NAM1 has come public to refute allegations circulating on social media regarding the embattled Menzgold Limited.

READ ALSO: NAM1 Soon To Announce When He Will Pay Menzgold Customers?

He said in a tweet today Friday that:

“Listened to misleading CACM voice notes in circulation. Beware of demagogues. Think first of your economic interests.

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“Menzgold is preparing actively to soon commence payments.

“Don’t muddy the waters. It would only disadvantage us all. Blessed Morning. #GhanaShallProsper”.

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This development must surely sound like music in the ears of Menzgold customers whose monies were locked after the Securities and Exchange Commission went after the company.

Source: AfricaCelebrities.com

The post Menzgold Is Preparing Actively To Soon Commence Payments – NAM1 appeared first on AfricaCelebrities.Com.

The much anticipated press conference by Nana Appiah Mensah, alias NAM1, is currently ongoing.

AfricaCelebrities.com is committed to bring our readers latest updates from the ongoing media encounter.

The structure of the press conference starts first with NAM1 reading out a prepared speech after which he will take questions.

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One of the things many Ghanaians are looking forward to is the announcement of when NAM1 will commence payment of monies owed to Menzgold customers.

It seems like the focus of this press release will be mostly on Menzgold and issues surrounding the company.

Here are some excerpts from the press conference:

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“As to whether or not our operations at Menzgold is a ponzi scheme, we pray the just Ghanaian courts to answer these questions…” – Nana Appiah Mensah

“With the cease and desist from SEC, we had to meet the payment obligations of customers. I embarked on debt recovery overseas. I was framed by Horizon Royal Diamond on my arrival in Dubai with a bogus claim…”– Nana Appiah Mensah

“We are open to fair supervision and are opposed to no supervision or supervision with malicious intent…” – Nana Appiah Mensah

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“I have no doubt in my mind that our company is on the path to greatness and global prominence.” – Nana Appiah Mensah

“To our Menzgold customers, please remember that your patience and support for us is not entitlement but something we earned working with you over the years” – Nana Appiah Mensah

“To the government of Ghana, we applaud you for not sparing the rod. We got your message. We have grown and are ready to accept responsibilities if there are any” – Nana Appiah Mensah.

“We will do everything to meet your demands individually and collectively”– Nana Appiah Mensah tells Menzgold customers.

“Admittedly, we have made some losses. We wear our losses as a badge of honour. Our losses depict our grand ambition” – Nana Appiah Mensah.

“I didn’t escape from Ghana to Dubai. I went overseas to other African countries, Europe and Asia on debt recovery journey”– Nana Appiah Mensah

“I don’t ascribe to the thought that Menzgold customers were greedy“- Nana Appiah Mensah

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“How can I pay my customers when my assets and bank account are frozen? I cannot make any payments until….”– Nana Appiah Mensah

“We will not hesitate to publish the name of customers in the dailys if it becomes necessary”– Nana Appiah Mensah

“SEC wants us to shut down our gold platform. That is tantamount to telling shops at Accra Mall to shut down and still make sales”– Nana Appiah Mensah

“MenzGold is not a ponzi scheme” – Nana Appiah Mensah.

“We own a mineral commission license that makes us a gold dealer from the Mineral Commission.” -Nana Appiah Mensah

The major highlight of the press conference- which many Ghanaians were looking forward to- is NAM1 has intimated that if the government of Ghana would come to his aid to retrieve his money from Dubai and unfreeze his assets, he would be able to refund all the monies owed to Menzgold customers.

Source: AfricaCelebrities.com

The post Developing Story: NAM1 Addresses The Press appeared first on AfricaCelebrities.Com.