General News of Monday, 14 January 2019
A photo of CEO of Menzgold, Nana Appiah Mensah, popularly called NAM1, before his rise to riches and fame has finally landed on the internet.
In the photo, NAM1 is seen occupying a single room, and the surrounding shows that he was not a rich man.
Like any other ‘ordinary’ Ghanaian about starting life, NAM1 had his bed lying on the floor in his room.
He could boast of a standing fan which he used in cooling himself from the heat.
YEN.com.gh’s eyes also caught the curtain he has used at the doorway, and our checks revealed that that curtain would not even cost 50 cedis today.
Owing to his looks in the photo, it seems it was taken about 10 years ago.
Despite his ‘poor’ beginning as a young man, NAM1 suddenly rose to fame and riches with many people questioning the source of his riches.
YEN.com.gh earlier published an article on the gold mansion he owns today, with the over 15 expensive cars found on the compound.
Some of the cars have been customised in his wife Rose Tetteh’s name.
Rose has been named as one of the directors of Menzgold, together with NAM1’s younger sisters, Benedicta Appiah, and Abigail Mensah. Hitherto, Menzgold Ghana Limited, which started operations some five years ago, had not received such popularity.
It was just about two years ago that he himself became popular following his establishment of Zylofon Music, which saw many Ghanaian musicians being signed onto the record label.
It was at this time that NAM1 came into the limelight, especially after he had organised a million dollar show to celebrate Becca’s 10 years existence in the music industry.
However, since his woes started, Becca has run as fast as her legs could carry her away from him, to the extent of unfollowing him on social media and deleting all NAM1 and Zylofon-related photos from her social media handles.
That was when the likes of Stonebwoy, Joyce Blessing, Kumi Guitar, Shatta Wale, Benedicta Gafah, Zynnel Zuh, Toosweet Annan, and the many other Zylofon artistes got signed.
It was during this time that Menzgold became popular, and many Ghanaians, attracted by the 10 percent monthly benefits on their dividends, rushed to invest with Menzgold.
However, five years along the line, it has been established that the company was operating illegally, and many people have described it as a “Ponzi scheme”.
After it was shut down by BoG and SEC, NAM1 has not been able to repay investors, and this has caused an uproar all over Ghana.
It is in this vein that he had been declared wanted by INTERPOL, following charges of defrauding under false pretences levelled against him.