Artiste manager Bullet has alleged that Chief Executive Officer of the now-defunct Zylofon Media and Menzgold, Nana Appiah Mensah, popularly known as NAM 1, deceived and used Ghanaian celebrities to cover up his alleged scam operations in Ghana.
In an interview on Angel FM with MC Portfolio, Bullet claimed that NAM 1, as a businessman, “knew nothing” about music, but deliberately signed celebrities onto his record label to build public trust in his investment schemes.
According to Bullet, the idea was that if people saw well-known artistes signed to NAM 1’s record label, they would be more likely to trust the brand and invest in Menzgold.
The artiste manager argued that if this had happened in Western countries, every celebrity who took money from NAM 1 would have been forced to return it, insisting that the artistes were used as a front to mislead Ghanaians.
“NAM 1, you don’t know anything about music. You have made money, and because you wanted people to trust you in the business you are doing, you signed celebrities and artistes so that they would showcase themselves. When the public sees that these artistes are on your label, they will go and save money.
“If it were in Europe, all artistes who took money from NAM 1 would have to return it because he used the artistes, including Shatta Wale and Stonebwoy, to deceive Ghanaians,” he alleged.
Bullet also responded to claims that late singer Ebony Reigns, who was signed to his Rufftown Records label, at some point also attempted to join Zylofon Media under NAM 1.
He explained that there was nothing wrong with Ebony exploring another record label, adding that it is common in the Ghanaian music industry for artistes to consider new labels when they hear of companies with huge financial backing signing talents.
Meanwhile, Nana Appiah Mensah and his companies face various charges, including unlicensed gold sales, unauthorized deposit-taking, investment inducement, defrauding by false pretences, fraudulent breach of trust, and money laundering.
Source: Ghanaweb