NAM1 of defunct Menzgold should have died in place of Christian Atsu. – Kumchacha

The founder and leader of Heaven’s Gate Ministries, Nicholas Osei popularly known as reverend Kumchacha has that NAM1 of defunct Menzgold should have died in place of Christian Atsu.

One may wonder why the man of God will make such statements. He revealed that he lost ₵300,000 in the infamous Menzgold investment sham. According to Kumchacha NAM1 should have died in place of a 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” He said.

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Reverend Kumchacha speaking as a guest on Onua TV revealed that it wasn’t easy raising such a huge amount of money. He added that he lost hope in getting his investment capital back when the government failed to hold NAM1 accountable.

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The collapse of Menzgold was due to the institution’s violation 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).

SEC on the count of Menzgold’s violation ordered it to stop its operations.

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.

Kumchacha is one of many who were enticed into NAM1’s scam. Dancehall act, Stonebwoy some time back revealed that he also lost money due to the collapse of Menzgold. Read More Here: I lost money, relatives because of MenzGold – Stonebwoy