'I Was Told NAM1 Has A Room Full Of Money To Pay Us' – Menzgold Customer

A client of the embattled gold-trading firm, Menzgold Ghana Limited, has said that she was assured that the company's CEO has a room full of money to pay all customers in the event of a mishap.

In an interview with Accra-based Class FM, Agnes Asante who works as a para-legal, said she invested invested GHâ‚¡24,000 in August 2018 with the hope of enjoying 10 per cent (GHâ‚¡2,400) per month on her gold investment.

However she was shocked that a few weeks after she invested in the Gold Vault Market business, Menzgold started having issues with the regulatory authorities.

'I confirmed that it has been running for five years and a worker from Menzgold assured me that even if things go wrong, NAM1 has an air-conditioned room full of money and, so, 'You will have your money (investment) back once there are issues.'

She added that she had been convinced by friends that 'NAM1 can never disappoint you.' She believed them because she had personally witnessed many clients receiving their dividend every month.

Ms Asante said she now feels disappointed after she has not received her returns or principal following several visits to the company.

She said Menzgold has been using its regulatory tussle with the SEC as an excuse for its failure to pay the clients their investment benefits and principal.

The company closed its offices on Friday and rescheduled payment of extra values for the third time.

The East Legon branch of the company had it premises locked. There was no staff on the premises when clients went there to claim their money.

A police vehicle with two personnel was also stationed at the office.

Meanwhile, Menzgold's new Head of Communications, Nii Amarh Amarteifio has explained that they had to postpone the payment due to attacks and threats on the lives of their staff by angry clients.

Mr Amarteifio assured the customers that their investments are safe and their extra values will be paid appropriately.