The former Chief Executive Officer for the defunct gold-purchasing company, Menzgold has been at the centre of conversations for a few weeks now after allegedly defrauding his customers of huge sums of money between 2016 and 2018.

Joining the general conversation, the General Secretary of the CPP, Nana Yaa Jantuah, has cautioned Ghanaians to beware of money-doubling schemes and quick money procedures.

Nana Yaa Jantuah asserted that there is nothing like quick money, adding that NAM1’s investment company (Menzgold) was bound to collapse even without the banking sector clean-up.

The CPP General Secretary who was speaking on an all-women panel on the August 31 edition of TV3 Newday and monitored by GhanaWeb, described NAM1 as a fraudster.

“I believe Ghanaians should start learning that quick money is not beautiful money. Quick money has issues because you should tell yourself, especially when you are a businessman or woman that how can this person can give me such a high interest rate?

“I believe what he was doing was [I collect money from A then I give it to B]. It wasn’t an investment so, at a point even if the place wasn’t closed down, he was constricted because now he couldn’t do that thing that he was doing; turning the money around. So, he would have collapsed anyway and such a person knew what the end was. You see, I find it very difficult to label people but I can say today that NAM1 is a fraudster,” she stated.

The Office of the Attorney General has slapped the former Chief Executive Officer for Menzgold, Nana Appiah Mensah (NAM1), with 39 charges after the initial 61 charges filed by police prosecutors were dropped.

According to the Attorney General, its investigations show that NAM1 truly committed crimes in his dealings with his customers.

NAM 1 is a fraudster. Ghanaians should start learning that quick money is not beautiful money, quick money has issues - Nana Yaa Jantuah weighs in on the MenzGold saga#TV3NewDay pic.twitter.com/4PKWFrQDJw

— #TV3GH (@tv3_ghana) August 31, 2023