Kumchacha believes NAM1 (Nana Appiah Mensah) should have died in the place of Christian Atsu for making him lose a whopping ₵300,000 in the infamous Menzgold investment sham.
In the words of the famed Prophet Nicholas Osei who happens to be the founder and head of Heaven’s Gate Ministries, NAM1’s diabolical schemes which culminated in investors like himself losing thousands of cedis in his company deserve to die and not generous and good person like Christian Atsu.
“I mentioned Nam1 and I’d explain, I lost three billion old currency equivalent to GH₵300,000 in our new currency to the whole Nam1 issue. Sometimes when I reflect on it in my mind, I wish to chew him alive when I get the opportunity.
“Because raising such an amount is not easy. I always take time to pray that God takes away such thoughts from my mind,” he stated while appearing as a guest on an entertainment talk show on Onua TV.
Prophet Kumchacha added that he had hopes of retrieving his money when the government earlier commenced the prosecution of NAM1 but has since lost that hope.
Menzgold’s woes started when, due to violations of the Securities Industry Act of 2016, the Securities and Exchange Commission (SEC) ordered the gold dealing company Menzgold Ghana Limited to immediately cease all investment activities (Act 929).
The SEC order also forbade Menzgold from continuing to solicit new depositor contracts and from advertising their investment company.
Investigations by the regulator found that Menzgold’s business, which involves the purchase/deposit of gold from the public and contracts issued with guaranteed returns with clients, is a capital market activity that cannot be conducted without a valid license issued by the SEC, according to a letter addressed to the CEO of Menzgold, Nana Appiah Mensah.