Menzgold will today release a payment plan and schedule for payment of locked-up investments of thousands of its customers countrywide.
This comes after the month-long validation of customers’ documents that started in on October 28 ends on November 28, 2019.
The CEO of the company Nana Appiah Mensah, ahead of today’s planned announcement, asked customer groups to forward their views and opinions about the intended payment schedule to their offices for consideration.
NAM1 in court
Embattled Chief Executive Officer (CEO) of Menzgold Nana Appiah Mensah is standing trial for defrauding his customers of about GHc1.68 billion.
According to the charge sheet, the money was from about 16,000 people who invested a total of GHc1,680,920,000 in the company.
The charge sheet indicates that Mr. Appiah Mensah’s two companies — Brew Marketing Consult and Menzgold Ghana Limited; represented by him, have also been charged with defrauding by false pretence, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29).
The two companies have also been charged with carrying out a deposit-taking business without a licence, contrary to Section 6 (1) of Act 930.
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.
The charge sheet explained that the accused persons purportedly aided Brew Marketing Consult and Menzgold to defraud the customers.