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Menzgold List: I’ve no money to waste on questionable ventures – Rawlings

Former President Jerry John Rawlings has dispelled reports that he has some money locked up with gold dealership firm, Menzgold.

In a tweet Sunday afternoon, the former NDC leader said “…I do not have a stash anywhere to waste on questionable ventures…”

He also called out the embattled company to react to the list being shared on social media purporting to be persons who invested with them.

“Shouldn’t Menzgold be reacting to this silly list making the rounds on social media,” he quizzed.

Per the list, Mr. Rawlings invested ¢400,000 in Menzgold. 

Rawlings also said he doubts the other personalities on the purported list are actually involved with the “mess”.

Shouldn’t Menzgold be reacting to this silly list making the rounds on social media? I do not have a stash anywhere to waste on questionable ventures and doubt others on the list involved themselves in this mess.

— Jerry John Rawlings (@officeofJJR) 13 January 2019

Speaking to Joy FM, other personalities who were on the said list said they had nothing to do with the company. 

 Tamale Central MP, Inusah Fuseini said he knew it was a Ponzi scheme when he learned Menzgold was giving a 10 per cent interest.

Menzgold list

It is reported that the embattled company will release a list of all those who invested various sums of monies with them following the Securities and Exchange Commission’s (SEC) directive to stop operations in September 2018.

Menzgold has since then defaulted in paying their clients the returns on their gold collectibles and has also failed to pay their capital despite several promises to do so.

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There have been a number of protest marches in the capital, Accra and in the Ashanti regional capital, Kumasi which is Ghana’s second busiest city.

The distressed clients want government to use its power to make Menzgold honour its contract to them.

The CEO of the company, Nana Appiah Mensah who has until recently lived a flashy lifestyle in the media is on the police wanted list after a warrant for his arrest was issued last week.

PRO Menzgold, Nii Armah Amarteifio told Joy FM that his boss has gone outside to work and pay the clients.

Ghana Police has, however, said they have informed Interpol and the international organisation will crackdown on NAM1 as he is popularly called.

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