The Coalition of Aggrieved Customers of defunct Gold-trading company Menzgold Ghana has called on its members to disregard claims by the Chief Executive Officer (CEO) Nana Appiah Mensah that over 60 percent of claims received from its customer due for payment, were not eligible.

This follows an announcement by the defunct gold-trading company that after validation, it could not validate about over 60 percent of claims received from purported customers who submitted their claims.

A statement issued by the defunct gold trading company on Wednesday, 9 August said: “Unfortunately over 60 percent of the total claims received were sadly not eligible thus invalid as the purported claims are plagued by one or several” defects it listed, including: “fake (fraudulent) supporting documents, transactions not approved by an Authorised Menzgold official and illegitimate claimant” among others.

Reacting to this however, the Coalition of Aggrieved Customers of the defunct company in a statement issued on Friday, 11 August 2023, signed by its Public Relations Officer (PRO) Frederick Forson cautioned its members “not to buy access card from Menzgold or his agents to access the so called validation data.”

According to the Coalition, its “checks indicate neither Menzgold nor Payboy has done any validation. This is a well programmed scheme hatched by Nam1 and his associates to fraudulently extort money from unsuspecting customers.”

The Coalition also rejected the “so called validation” which was solely done by NAM1 and “his Menzgold without the involvement of any known state reputable agency because Menzgold and Brew Marketing company Ghana limited were shut down by a State agency and the CEO, currently facing criminal trial and so it cannot purport to be doing validation on its own volition.”

It stressed that “Payboy is a company that does not have any credibility and urged its members “to slow down not to make any commitment” as these are “fraudulent deals.”

“No Customer of MenzGold should be misled again,” the statement added.

Speaking on the Business News on 12Live, the PRO of the Coalition of Aggrieved Customers Christopher Atitso emphasised, the new excuse by the company is to “fraudulently extort money from unsuspecting impoverished customers.”

Meanwhile the coalition is calling for the arrest of the CEO of the defunct company.

“If they[authorities] fail to do that Monday we’re walking to the Military High Command and ask them to come and arrest NAM 1,” the PRO stated.