The 1st Vice President of the Musicians Union of Ghana (MUSIGA), Bessa Simons has revealed that the union has invested GHc70,000 in defunct gold dealership company Menzgold.
He made this known in an interview with Bozzlz TV.
Bessa said as a group that believes in making financial gains from their money, they thought it was prudent to have made that investment to help the union.
"MUSIGA’s decision to invest in Menzgold was taken by the National Executive Committee and then this disaster happened. This has happened to so many organisations. They did it with good intention to earn more money for MUSIGA. So if there is a problem I think we all have to wait and pray and make sure that it is corrected. A lot of organisations and individuals have lost money through this,” he said.
Court remands NAM1, to reappear on July 26
Menzgold Chief Executive Nana Appiah Mensah, NAM1 has been remanded into police custody after he appeared before the Accra Circuit Court on Friday.
He is to reappear in court on July 26, 2019.
The court granted the order after the police requested for two weeks to enable them complete investigations into allegations against NAM 1, as he is popularly known.
He has been charged with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without a licence, contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).
Two of his companies — Brew Marketing Consult and Menzgold Ghana Limited — represented by him, have each been charged with defrauding by false pretence, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29).
The two companies have also been charged with carrying out a deposit-taking business without a licence, contrary to Section 6 (1) of Act 930.
Also facing the law are his sister and his wife, Benedicta Appiah and Rose Tetteh, respectively, who have been slapped with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without a licence, contrary to Section 6 (1) of Act 930. The two women are, however, at large.
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