COALITION OF AGGRIEVED CUSTOMERS OF MENZGOLD GHANA P.0.Box 193, Ashaiman - Email: forson_frederick@yahoo.com - Tel: 0502133763, 0243786322, 0208338654 (Our Ref: 6049562019 Your Ref: .. 14™ SEPTEMBER 2021. PRESS CONFERENCE TO MARK 3 YEARS OF COLLAPSE OF MENZGOLD INTERNATIONAL PRESS CENTRE, ACCRA Theme: Three Years of Menzgold Collapse: Customers Dying in Silence Amidst Incessant Court Adjournment “The expectation of the righteous shall never be cut off." The Late Nelson Madiba Mandela once said "it always looks impossible until it is done” At this point, ladies and gentlemen of the media, let me through your diverse platforms, talk to our expectant customers across the globe: (a word of exhortation to customers ) using the Words of Joseph in the book of Genesis Chapter 50:24-26, I speak directly to the hearts of the customers. (take @ minute silence to remember departed customers) Fellow Customers, Ladies and Gentlemen of the media, Ithas been 3 years already since Menzgold and Brew marketing companies were asked to shut down by the Security and Exchange Commission(SEC) (September 2018). This shut down was an extension of ‘what many believed to be a clean up of the financial sector. That singular act, which can be blamed as the Major cause of the current hardship in the country, was reckless, slapdash and unproductive. It never sought to protect the ordinary Ghanaian customer. The over one million Ghanaians who are directly and indirectly affected by this development are yet to see any remedy by the government or its agencies in assisting customers retrieve their locked up investments. Rather, the criminal prosecution of Mr. Nana Appiah Mensah, the CEO of Menzgold has been dragging for as long as the company shut down, ‘worsening the plight of these powerless customers. Deaths, Sickness and Bed Ridden Customers Ladies and Gentlemen: Over 120 customers of Menzgold have passed since 2018. In the past two weeks alone, we have buried 10 customers (5 in Kumasi, 2 in Accra, | in Tarkwa and 2 in the Central Region). Our hopelessness as ‘customers of the defunct Menzgold continues to deepen with no future assistance from government or its agencies in sight. Many customers continuously take ill and face the stark reality of having no money to ‘buy medication or seek medical care. While we sorrowfully bury at least 2 customers every month in recent times, our pain is exacerbated by government's (and its agencies) unconcerned posture. It has come to our attention that, Nana Appiah Mensah, aka Nam1 who is a major contributor to our current plight has been given a new license with which he has started trading in minerals once again as Ivex Minerals (an ongoing mineral trading business activity). This comes to light after NAMI who is currently standing criminal prosecution in our law courts failed in operating PayBoy, Menzgold Prado, Menzgold Global, Zyllawood ete in the aftermath of Menzgold collapse.Court Trial of Nami It would be recalled that, since the onset of the Menzgold brouhaha, the government's remedy has been criminal prosecution of the CEO of Menzgold and Brew marketing. Even though, this remedy is not one that favors us; we have always given our full support for it. However, this remedy by government seems to have hit rock bottom, Constantly, the criminal prosecution of NAMI has been adjourned with a variety of excuses from the state prosecutor. Ladies and gentlemen of the media, you are witnesses to the incessant adjournment of the criminal case against Nam| in our law court. In one instance, the judge had to threaten dismissing the case because the state prosecutor failed to go to court. In another instance, the court had to adjourn the case simply because Nam| had a cold. We believe these are tactics been used to delay justice that we deserve as Ghanaians ‘who invested in a Ghanaian company licensed by an agency of government. Its the government's strong opinion that Nam1 is the sole culprit in this unfortunate fate of Menzgold and thus must be criminally prosecuted. But there seems to be no light at the end of the tunnel in this criminal tral, which the government prefers. Initially, we came up with a petition that Government should suspend the criminal trial and rather assist us in retrieving our locked up funds after which the criminal trial can be continued. Our proposal in the said petition was flatly denied. However, the rampant adjournment of the criminal case(been running for three years) has shown that till date, the state's prosecution team has not been able to even proffer charges for tril. This is a clear sign that government lacks commitment to prosecute Nam as many see the trial as “a government dancing kpalongo” in court with the Nam. But for us as legitimate customers, whether Nam1 is prosecuted today, tomorrow or not, we shall pursue every legitimate means to retrieve our locked up investment. To us, our investment is locked up not because Nam refused to pay but because of the hasty action of a Government specifically Sect and Exchange Commission's (SEC) action on the 12th September 2018. The action failed to protect the Ghanaian investor as expected of it by law as well as its own recommendations after its supposed investigation into Menzgold. Customers have suffered in silence for governments failure at its own job and we will not continue to keep mute! Several petitions to SEC since the beginning of this brouhaha were all ignored including our last petition to them to include Menzgold customers in the then bail out plan in September 2020. ‘MenzGold Customers were labeled as Greedy Immediately after the collapse of Menzgold, aggrieved Customers were called names and labeled as "\greedy customers" by no less a person than the finance minister. One would have thought that the Minister could have been more circumspect especially when this same minister heads a ministry that superintends over a lotto department. How could a government that has a lotto department it generates ‘money from call investors in a Ghanaian company greedy? ‘This unfortunate labeling, therefore succeeded in making lots of our customers including pastors, media personnel, bankers and many churches go into hibernation and never wanted to be associated with anything MenzGold. However, today, we want to put on record that doing business with MenzGold was never a sin nor did it ever infringe on any known law in Ghana. Menzgold was a legitimate company, registered and licensed by appropriate State agencies under the laws ‘of Ghana to operate. If the State feels that the company added on other operations that encroached the jurisdiction of another regulator, it is not the customers who should suffer for the company's shortcomings. Additionally, that shortfall does not in any way make the customers of Menzgold greedy3 nor offenders of the law. If the directors and operators of Menzgold sinned, their sins must not be visited on customers. We are therefore calling on all customers in hibernation including pastors, churches, celebrities and other known companies and private individuals to show up to be counted! We shall surely retrieve our money! ‘The doors of the Coalition of Aggrieved Customers of Menzgold are always open to welcome all Menzgold customers willing to join the fight in retrieving our money, Efforts Made So Far ‘A promise by the Finance Minister in 2019 at Burma Camp to the soldiers who were also customers that an Asset recovery committee would be set up to assist in retrieval of the locked up money was not fulfilled. These and many other inaction by government portrays the lack of commitment on the part of government and customers, thus, feel excluded when it comes to our welfare. We have petitioned the Presidency twice with no response. In one instance, the Ghana police operations ‘team arrested some of the customers. We also petitioned the Council of State, the former Presidents, the Attorney General, Security and Exchange Commission but saw no action. We then petitioned Bank of Ghana, the Church of Pentecost, the Christian Council, National Peace Council, Manhyia palace as well as other senior citizens and respected religious leaders, but still saw no action, We petitioned the 7th Parliament but never received a response. We also petitioned the National Security Minister who met our leaders for a discussion during ‘which he made promises that he failed to honor. We petitioned Inspector General of Police but no action ‘was taken in favor of customers. Rather, we were arrested when we went to NAM 1's house for our ‘money. We are yet to petitioned the Military high command, We have petitioned the current Parliament through the Right Honorable Speaker to which he responded and directed us on what to do. He advised that we petition Parliament in accordance with order 76 and we hhave since done that. The Way Forward We call on Parliament to investigate the closure of Menzgold including the role played by SEC and EOCO as well as the bank accounts of the CEO and board of members of Menzgold and Brew Marketing Companies. The whereabouts of some 400kilograms of gold assets should also be investigated. Conclusion Ghana should as a matter of urgency treat the unresolved Menzgold issue as an emergency national catastrophe, We call on the government in the spirit and within the wind of cooperation blowing in Parliament to work closely with the august house of Parliament to find an amicable solution to this conundrum that customers find themselves.Finding a solution will end the near extinction of over a million Ghanaians whose lives and very existence have been shut with the shutdown of Menzgold. I thank you all for your attention CACM Leadership jax Isaae Nyarko (Chairman: 0208338654), Fred Forson (PRO: 0502133763) Francis Owusu(0559360457), Samuel Agyarko(0245544161), Priscilla Boateng(0249606159) David Owusu (0243113040), Amold Tamaklo (0554055828), Rawlings Boateng(0244973444), Mahamud Salifu(0249126127)