Arrested Menzgold customers struggling to meet bail conditions



Some Menzgold customers who were arrested on Wednesday for “messing up” at the Trassaco residence of the company’s Chief Executive Officer (CEO), Nana Appiah Mensah, popularly known as NAM1, are struggling to meet bail conditions for their release.

About 90 of the customers were arrested by the police for trespassing, unlawful entry and causing injury to the security detail at the Trassaco estate.

They were at the residence of NAM1 to demand their locked-up investments.

Police officials from the Accra Regional Command claimed they arrested the customers to maintain order at the place.

Speaking on Eyewitness News on Wednesday, spokesperson for the Coalition of Aggrieved Customers of Menzgold, Francis Owusu said “as we speak now they [police] have granted us bail but we are to provide one surety each before we will be allowed to go. So we are still stranded here looking for relatives and friends to come and help us secure our bail.”

What happened at NAM1’s residence?

According to reports, the customers after marching to the Trasacco gates were denied entry by the security personnel at the gates.
The customers were said to have overpowered the security personnel and entered the premises after which the police came in to restore calm.


Following an order from the Securities and Exchange Commission (SEC) to suspend aspects of its operations 2018, Menzgold has since been struggling to pay its customers their monies.

Management of the gold dealership firm, Menzgold on December 27 2019, said close to 200 customers of the company had received their locked-up funds, a claim the customers disputed.

Why customers stormed NAM1’s residence

Spokesperson for the Coalition of Aggrieved Customers of Menzgold, Francis Owusu, on Eyewitness News said the reason why they stormed the residence of NAM1 was to demand from him a list of the people he claimed he had so far paid their locked-up cash.

“For almost one week now Nana Appiah Mensah and his Menzgold has been telling lies to the general public that they have paid 200 of their customers which is false, So, as customers in the various regions, we decided that we will pay Nana Appiah Mensah a visit and find out from him who those people that he keeps telling the general public that he has been paying them are. Lo and behold we were able to get to his place at the Trassaco valley. When we got to the gate we asked the security man at the gate of Nana Appiah Mensah’s residence and he opened the gate for us and we entered the premises,” Francis Owusu explained.

According to the customers, they did not break into the residence contrary to earlier reports that indicated that they forced their way into the Trassaco Valley Estates.

“Actually we didn’t enter Nana Appiah Mensah’s house, we were just in front of his gate. All of a sudden we heard three gunshots from his house and then the internal security at the Trassaco came around and we approached them and they asked us what we were for and we told them we were here to demand from Nana Appiah Mensah our investment,” Mr, Owusu added.

He said, they are determined to retrieve their investments through every possible means adding that “this was just the beginning” of several actions they intend to take.



Please enter your comment!
Please enter your name here