Home Entertainment Menzgold sold fake gold called "Aurum Utalium" to investors as pure gold

Menzgold sold fake gold called “Aurum Utalium” to investors as pure gold

NAM1's MenzGold sold Fake Gold called "Aurum Utalium" to investors as pure gold

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A lot has been said about Menzgold and its CEO Nana Appiah Mensah since the Securities and Exchange Commission authorized the gold investment company to shut down in a letter dated 7th Sept. 2018.

However, a new report discovered by Ghpage.com is more deadly than all the allegations level against the owner of Menzgold, Nana Appiah Mensah. Ghpage.com has just discovered the metal sold to Menzgold investors were fake and not original gold as the company made it investors to believe.

Nana Appiah Mensah CEO of Menzgold

SEE ALSO: Did NAM1 trigger the Menzgold collapse himself to rescue his crumbling finances?

Reading the chapter 2 of the contract signed between Menzgold and the investors, the contract specifies the commodity being sold to investors. Chapter 2: A States: Commodity Gold – Aurum Utallum (AU Metal).

The Part Of The Menzgold Contract That Spells Out Specifications OF The Gold Being Sold

SEE ALSO: Highly educated people sat down for small boy NAM1 to dupe them – Kennedy Agyapong exposes Menzgold and NAM1’s dubious dealings [Watch Video]

Now, a simple google search will tell you there is no gold or precious metal called Aurum Utallum. However, Aurum Utalium (or Utallum) is a term often used by criminals who distribute fake “gold offers”. Aurum (AU) means Gold but there is no such word or mineral in Latin as Utalium.

Because the terminology “Aurum Utalium” does not and cannot represent the true gold, the word was used in courts in some countries, to defend fake gold criminal dealers, as the criminal never offered “Aurum” but “Aurum Utalium” which is the name of the fake and fraudulent yellow, shiny metal, that contained no gold inside. It is brass and alloy of several metals but never a precious metal so definitely not gold.

SEE ALSO: NAM1 a fraudster? A certain Gideon Aduku reveals 5 ‘hidden’ modus operandi to scam people as he ‘exposes’ Nana Appiah Mensah big time!! [Details]

A “dealer” of gold that uses “Aurum Utalium” is not a dealer. A licensed dealer is forbidden by laws to misrepresent the gold as a precious metal, and every true and genuine dealer of gold knows that gold cannot be named “Aurum Utalium” but “Aurum”.

Ghpage.com upon research also found out that it unacceptable (Though not illegal) to use Latin word for gold (Aurum) in conversation or contract when the English language is the language for communication.

SEE ALSO: Kwesi Pratt reveals secrets and explains why Menzgold should be shut down immediately [Listen]

Already, people like the Member of Parliament for Assin North, Kennedy Agyapong, Ibrah One, Gideon Aduku, and others have described Nana Appiah Mensah also known as NAM1 as fraud and have cited reasons to back their accusations.

Ghpage.com is following this new discovery and will report back when there is any new development. STAY WITH GHPAGE.COM

SEE ALSO: Meet William Atsu Tekpor, NAM1’s “Partner In Crime” from day one according to Gideon Aduku [See Photos]

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