Menzgold Customers Deaths: Over 300 Reported Dead Since 2018

Over 300 Menzgold customers have reportedly died since 2018 collapse

More than 300 customers of the collapsed gold dealership Menzgold have lost their lives over the past eight years after losing their investments, according to the spokesperson for the Coalition of Aggrieved Menzgold Customers (CACM), Frederick Forson.

The Accra High Court concluded its Case Management Conference on July 13, 2026, marking a significant step forward in the proceedings against the company's chief executive officer, Nana Appiah Mensah, widely known as NAM1. NAM1 filed his mandatory witness statements at that hearing, a development that had been delayed after his legal team sought to suspend the trial by appealing a court order compelling him to open his defence.

The company, Menzgold Ghana Limited, operated without a licence from the Bank of Ghana or the Securities and Exchange Commission, accepting customer deposits under the guise of gold trading returns. This unlicensed operation left thousands of investors with locked-up funds and no clear path to recovery when the company collapsed in 2018. The charges against NAM1, Menzgold Ghana Limited, and Brew Marketing Consult include money laundering, operating an illegal deposit-taking business, and defrauding customers of more than GH¢340 million.

CACM has remained active throughout the intervening years, lobbying for government intervention and closely monitoring the criminal proceedings as the primary mechanism through which customers hope to recoup their losses. The human toll of the Menzgold collapse is a stark reminder of the need for stringent regulations and oversight in the financial sector to protect investors. With the ongoing trial, customers and the public are eagerly awaiting the outcome, hoping for justice and some form of reparation for the losses incurred.

The Accra High Court has scheduled further proceedings in the case, with the next hearing expected to take place in the coming weeks. As the case unfolds, it remains to be seen whether the victims of the Menzgold collapse will finally receive the justice and compensation they deserve.