GhPage News Menzgold ordered to pay 58 Soldiers GH¢2.6m owed them

Menzgold ordered to pay 58 Soldiers GH¢2.6m owed them

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An Accra High Court presided over by Justice Angelina Mensah-Homiah J. in a November 4, 2019 ruling has ordered Menzgold, the embattled gold dealership company to pay 58 soldiers the whopping amount of GH¢2,664,00 as their money locked up at the company.

The sum is the principal investments the soldiers made with Menzgold. The investments range between GH¢18,000 and GH¢244,000.

The court, however, refused to enforce the contractual interest at the rate contained in the respective agreements between Menzgold and the respective plaintiffs because it had been found to be a Ponzi Scheme in a previous suit.

The soldiers (Plaintiffs) will instead be paid interest at the prevailing commercial bank rate from the date of judgment till the date of final payment, according to a report by Graphic Gh.

Nana Appiah Mensah Aka NAM1 is standing trial on multiple counts of defrauding by false pretenses, operating without a required license among many others.

He is currently on a bail of GH¢1 billion. is monitoring the development and we will keep you updated

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