Bullet has claimed that Nana Appiah Mensah, popularly known as NAM 1, deliberately surrounded himself with some of Ghana’s biggest entertainment personalities as part of a strategy to build public trust in Menzgold and his other business ventures.
Speaking on Angel FM in an interview with MC Portfolio, the Rufftown Records boss said the former Menzgold and Zylofon Media CEO was never genuinely invested in the music business. Instead, he alleged that celebrities were recruited to help strengthen the credibility of businesses that were seeking public confidence.
According to Bullet, the signing of top musicians to Zylofon Media was less about developing talent and more about creating an image that would attract investors and reassure potential customers.
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He argued that the involvement of well-known artistes gave many Ghanaians the impression that the company was trustworthy, encouraging them to place their money with Menzgold.
“NAM 1, you don’t know anything about music. You have made money, and because you wanted people to trust you in the business you are doing, you signed celebrities and artistes so that they would showcase themselves. When the public sees that these artistes are on your label, they will go and save money.
“If it were in Europe, all artistes who took money from NAM 1 would have to return it because he used the artistes, including Shatta Wale and Stonebwoy, to deceive Ghanaians,” he alleged.
Bullet went on to suggest that in some countries, public figures who benefited from similar endorsement arrangements could be compelled to refund money if authorities determined that their influence played a role in attracting investors.
The artiste manager also revisited speculation surrounding the late Ebony Reigns and reports that she had contemplated a move from Rufftown Records to Zylofon Media before her death.
He dismissed suggestions that such a decision would have been surprising, noting that artistes often weigh their options whenever a financially strong label enters the industry.
Bullet explained that musicians are naturally drawn to opportunities that promise greater investment, improved career prospects and stronger promotional support, adding that such movement is common within Ghana’s music scene.
Meanwhile, Nana Appiah Mensah and several companies associated with him remain entangled in a number of legal cases. The allegations against him include unlicensed gold trading, unauthorised deposit-taking, investment inducement, defrauding by false pretences, fraudulent breach of trust and money laundering.
Watch a video of his statement below.
@qwadwo.vyrus NAM 1 deceived and used SHATTAWALE & STONEBWOY to cover his scam deals and God is punishing him for that – Bullet angrily fires at zylofon CEO NAM1 #stonebwoyfans🇬🇭 #shattamovement #stonebwoy #shattawaleking #fyp ♬ original sound – Qwadwo Vyrus