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Stonebwoy, In Ponzi, Crypto NFT Scam Saga.

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Last updated on April 22nd, 2022 at 10:10 am

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TV personality, Bridget Otoo has called out Ghanaian musician on Twitter for his endorsement of collapsed Menzgold ponzi investment scheme that closed recently with investors funds unaccounted for .

The call out follows latest Twitter post from the musician endorsing a digital crypto NFT project called “sidicoinclub”.

Stonebwoy tweeted, “Every Hardworking Person Deserves To Make Money,The Future is NOW! Times Are Changing Anticipate the #SidiCoinNFT @sidicoin Join The #SidicoinClub Will Tell You More Later. #NFTsCommunity”

The aggrieved person with the Twitter handle: @Bridget_Otoo, in a quoted tweet reply accused the musician of complicity in endorsing failed investment projects.

“You are part of the ambassadors of menzgold who championed and lead customers to lose money. Some have died as a results of the Menzgold scam. Do you think it is fair to introduce them to another “money making venture” ? Do you really care about them?”

Menzgold Ghana Limited allegedly was a fraudulent gold dealership and investment firm that promised customers an average of 7-10 percent monthly returns on investments. It was subsequently shut down by Ghana’ Securities And Exchange Commission for illegal operations without lisence following customers complaint of the firms inability to pay the promised monthly percentage return on investment.

Founded by Nana Appiah Mensah. The firm is reported to have initially traded as Menzbank; then changed to Menzbanc and then finally to Menzgold, due to warnings from the Bank of Ghana about the use of ‘bank’ as a company name for a non-banking entity.

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