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Daily Accra > Blog > News > Business > Aggrieved Menzgold Customers Warned of NAM1’s Alleged Deceptive Tactics to Drain Remaining Funds
Business

Aggrieved Menzgold Customers Warned of NAM1’s Alleged Deceptive Tactics to Drain Remaining Funds

The Public Relations Officer (PRO) of the Aggrieved Menzgold customers cautions against falling for Nana Appiah Mensah's purported ploy.

Felicia Afunyabea
Last updated: August 21, 2023 10:39 am
By Felicia Afunyabea 453 Views
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4 Min Read

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The Public Relations Officer (PRO) of the Aggrieved Menzgold customers, Fred Forson, has issued a stark warning to fellow clients about the alleged deceptive maneuvers of Nana Appiah Mensah, commonly known as NAM1, the founder of Menzgold. Forson raised concerns that NAM1’s latest actions might be designed to exhaust the remaining funds of customers, thereby exacerbating their financial predicaments.

Speaking on Metro TV, Forson called upon Menzgold clients across the globe to exercise vigilance and not to be ensnared by what he branded as NAM1’s “latest trick.” He expressed his fear that NAM1 might be attempting to extract the last remaining funds from customers, leaving them in a dire situation. “All that he is seeking to do is to finish the customers completely. He just wants to collect the last penny left with the customers,” Forson cautioned.

Forson delved into NAM1’s previous tactics, elucidating a pattern where the founder allegedly attempted to extract money from customers through various questionable means following the collapse of Menzgold, the parent gold trading company. “You remember after the collapse of Menzgold, the modus operandi has been that he always comes with a scheme to extort monies fraudulently from customers,” Forson recounted. He pointed out instances from 2018 and 2020 where NAM1 introduced schemes like requesting customers to pay 5% and 9% of their locked-up investments, respectively, but failed to fulfill his promises.

In reference to NAM1’s current press statement involving a company called Payboy, Forson raised suspicions about the legitimacy of such endeavors. “I want to find out, if you owe me, I am not the person who is supposed to look for a debt collector company. But you, the person who is indebted to me, have established a debt collecting company and you want me to go to that company, which is also another fraudulent company,” Forson remarked. He further pointed out that NAM1 is now allegedly asking customers to pay GHC 650 for an account validation exercise.

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Forson fervently contested NAM1’s claims that these validation activities were intended to facilitate the repayment of customers’ debts. He maintained that their investigations suggested otherwise. “From our checks, NAM1 hasn’t done any validation. He only uploaded 5 referrals that he recently asked workers to refer to him and is currently uploading this on the Payboy website,” Forson asserted. He cautioned that despite these efforts, NAM1 might not fulfill any financial obligations, as Menzgold is reportedly defunct.

While NAM1’s press statement alludes to the company’s commitment to resolving the outstanding issues with its clients, the skepticism expressed by the PRO and aggrieved Menzgold customers underscores the lingering lack of trust. As the controversy surrounding Menzgold continues, many are left questioning the true intentions behind NAM1’s latest initiatives and whether they will yield the promised outcomes.

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