Popular Ghanaian comedian, OB Amponsah, has quickly reacted to an announcement made by the embattled CEO of Menzgold, Nana Appiah Mensah, on his social media pages.
In a tweet shared on Sunday, January 15, 2023, Nana Appiah Mensah, suggested that one of his companies that has folded up following his issues with the government, Zylofon Media, was going to be relaunched soon.
NAM1 called on all his followers to anticipate the new Zylofone Media.
A new dawn for Creative Arts, Mass Media, Sports, Science & Information Technology. A brand new organization. A giant leap into everlasting glory. Anticipate the NEW ZYLOFON…Creativity, Innovation & Technology. #GhanaShallProsper🇬🇭 pic.twitter.com/LD8LFCAiHw— Nana Appiah Mensah (@nam_the_patriot) January 15, 2023
In a response to this, OB Amponsah took to his Facebook wall to lash out at NAM1 and describe him as a fraud.
He also requested that NAM1 does the needful and pay people like him their lock-up funds they have with his closed-down company, Menzgold and stop making this noise of relaunching Zylofone Media.
The Securities and Exchange Commission (SEC) directed gold trading firm Menzgold Ghana Limited to shut down their investment operations in 2018 for contravening the Securities Industry Act, 2016 (Act 929).
In the letter, they sent to Nana Appiah Mensah at the time, they indicated that the investigations conducted by the regulator found that Menzgold’s business which involves the purchase/deposit of gold from the public and contracts issued with guaranteed returns with clients is a capital market activity which cannot be conducted without a valid license issued by the SEC.
The shutdown of the company caused a lot of people to lose their monies and till date, they are in court requesting that Nana Appiah Mensah pays back their money.