Menzgold Lawyer Asserts Investment Risk Amid Cross-Examination

During a cross-examination in court, the lawyer representing Menzgold, the defunct gold dealership firm, conveyed a straightforward message to a customer who had invested over GH₵5 million: “You simply took an investment risk and lost out.” Lawyer Kwame Akuffo emphasized the inherent risk associated with substantial investments in enterprises like Menzgold.

The customer in question, civil engineer Stephen Attippoe, testified that he relied on representations made by Nana Appiah Mensah, Menzgold, and Brew Marketing Consult when investing GH₵5.2 million. He later realized that the accused parties were operating without the necessary licenses.

Attippoe had engaged in seven separate trading agreements with Menzgold, investing within a span of three months and receiving a lump sum of GH₵502,000. The lawyer’s line of questioning aimed to underscore the customer’s awareness of the risks involved in such financial endeavors.

Meanwhile, Menzgold, its CEO Nana Appiah Mensah (NAM 1), and Brew Marketing Consult face 39 counts of criminal charges, including operating without a license, inducing investment, and fraudulent breach of trust. The charges were filed by the Attorney General after a prolonged period of court appearances without a trial.

As part of his investments, Attippoe received interest payments, but issues arose when an ECOBANK cheque from Menzgold, amounting to GH¢240,000, was dishonored. The court case continues, shedding light on the legal complexities surrounding Menzgold’s operations and the subsequent fallout.

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