Menzgold engaged in extortion of customers - Witness tells court

Another witness in the ongoing trial of Nana Appiah Mensah, also known as NAM1, the Chief Executive Officer of Menzgold Ghana Limited has said that efforts to retrieve funds from the defunct company were unsuccessful, alleging that Menzgold used the situation to exploit money from customers.

According to a report by dailyguidenetwork.com, the prosecution presented two witnesses, bringing the total to eight, with the case investigator slated as the last witness to testify on February 7, 2024.

Benjamin Baffoe, the eighth witness, disclosed that he earned GH¢840,000.00 from Menzgold between December 2017 and June 2018.

He recounted the attempt, stating, "I made several attempts through the association, Coalition of Aggrieved Customers, to retrieve my money but it proved futile."

Baffoe also mentioned unsuccessful migration fee payments and other demands he had to deal with, concluding, "all demands on Menzgold did not yield any result, rather, money was extorted from customers."

Rose Ocran, the seventh witness, shared the emotional toll of losing money to Menzgold, saying,

"I behaved like a mad person at the onset when I realized I had been defrauded," she explained.

She is reported to have invested GH¢851,600.00 between February and July 2018.

"All efforts to retrieve my principal from Menzgold Ghana Ltd. have been unsuccessful," she added.

The prosecution's sixth witness, Fred Odame Asiedu, invested GH¢1.2 million and testified last week.

"I realized that the businessman and his companies were deceitful in their dealings with customers of the company," he said, the report stated.

NAM1 and his companies, Menzgold Ghana Limited and Brew Marketing Consult Ghana Limited, face charges of defrauding by false pretense, inducing public investments, and money laundering.

NAY/AE