Ever since report went viral that the Securities and Exchange Commission has ordered Menzgold to shut down operations because it’s violating permit given Menzgold, the CEO of the gold deposit institution, Nana Appiah Mensah aka NAM1 has been under the spotlight.
His operations have been questioned a lot by Ghanaians but one person who has got many people talking is one Gideon Aduku who appears to know NAM1 very well even before he hit the limelight almost 2 years ago.
Gideon Aduku since the order from SEC ordering the company to shut down has made startling revelations about the illegal dealings of the company owned by Nana Appiah Mensah.
Interestingly, he did not start exposing NAM1 after the SEC order of shut down. He has been doing that for over a year now.
In August 2017 a whole one year before Menzgold’s troubles with Bank of Ghana started, Gideon Aduku took to his Facebook timeline to make shocking revelations into the illegal activities NAM1 has been involved in since 2012.
According to Gideon Aduku at the time, NAM1 is a fraudster who has been involved in several scams. The Facebook user revealed that in 2012, Nana Appiah Mensah and his partner, one William Atsu Tekpor formed EssefGold Ghana Limited, a gold investment company which ended up defrauding hundred’s of people. The company was located at New Weija.
Gideon said after being involved in several fraudulent activities, EssefGold was rebranded into Menzgold by Nana Appiah Mensah and his partner William Atsu Tekpor and was never apprehended.
In the same August 2017 post, Gideon Aduku narrated how the same NAM1 scammed people under the guise of securing visa abroad for them. Interestingly, he was never arrested because NAM1 was backed by bigwigs in the then ruling NDC.
READ HIS FULL FACEBOOK POST BELOW
Fast forward 2018 and Menzgold is in a fist fight with Bank of Ghana and the Securities and Exchanges Commission. According to SEC, Menzgold is violating the permit granted the company and has ordered it to shut down. Initially, Menzgold resisted the directive but caved in less than 24 hours.
Gideon Aduku has since been exposing activities of NAM and the ‘clever scheme’ he employed in scamming people successfully for over 2 years until Bank of Ghana clamped down on him.
Gideon boldly stated NAM1 is running a Ponzi scheme at Menzgold and he went on to list the 5 major steps NAM1 used to gather soo many investments from Ghanaians. He likened NAM1 to the Colombian Cartel Boss, Pablo Escobar.
At the peak of his career, Pablo Escobar’s cartel supplied 80% of the cocaine exported to the USA. Yet his arrest was resisted by his community due to his philanthropic works just as people are doing to NAM1 today.
Below are the five steps being employed by NAM1 to ‘scam and defraud’ people as posted by Gideon Aduku on his Facebook page
However, it must be noted that no court has found Nana Appiah Mensah aka NAM1 guilty of the allegations leveled against him by Gideon Aduku. It must also be noted that Gideon Aduku states in his post that he has evidence to back all the allegation he has made against NAM1.
Currently, it’s being reported Nana Appiah Mensah has sought the service of an international law firm from the UK to battle SEC in court.
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