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Why Stonebwoy Should Be Arrested – Menzgold Customers Start Campaign

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The call has become rife after the musician started promoting another money-making venture akin to Menzgod on his social media platforms not too long ago. Stonebwoy on April 18 asked his fans to invest in the new a non-fungible token (NFT) SidiCoinNFT.

“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.”

According to the statement released and signed by their PRO, Fred Forson said Stonebwoy who happened to be one of the ambassadors of MenzGold investment should not have taken this step considering how he lured his followers into investing in MenzGold which has resulted in the deaths of not less than 179 victims with many others down with various degrees of ailments.

Read the statement below:

26th April 2022



The national security, EOCO and the CID is being called upon to arrest, prosecute and strip Ghana’s Dance hall artiste, Livingstone Etse Satekla popularly known as Stonebwoy of any national or corporate award(s) for openly endorsing and promoting sidicoinNFT and sidicoin club; an unlicensed financial scheme which has been found to be a scam.

It should be noted that Stonebwoy has over 2.8 million followers on Twitter, over 3.1 million followers on Facebook and over 4 million followers on Instagram and as such we must not take his influence lightly.
Ghana has not forgotten so soon that Livingstone Etse Satekla alias Stonebwoy was one of the lead brand ambassadors for the botched MenzGold investment wherein a similar fashion he and others lured their followers into investing in MenzGold which has resulted in the deaths of not less than 179 victims with many others down with various degrees of ailments. This unlicensed sidicoinNFT has been structured in almost the same manner as MenzGold was.

Their legal terms, purity of gold of the coin being offered, fixed percentages of dividends one is assured, and language of their terms and conditions cleverly tell you that this business is a Nam1- made- scam. Media reports that this new scheme belongs to Nam1 is not doubtful and as victims of MenzGold we cannot understand why this gentleman has been a bi-annual innovator, creator and father of modern day schemes in Ghana and our state authorities continue to look on helplessly in bringing him and his assigns including Stonebwoy to face full justice.

In 2020 for instance, Mr Nana Appiah Mensah officially urged the customers of defunct Menzgold to do business with Payboy in order to retrieve locked up investment in MenzGold. That was later found to be another scam.

Many customers lost money after going to do business with Payboy, and as we speak Nam1 is left untouched for such unpardonable offences. In other jurisdictions and given the events with what has happened to Menzgold victims,

Stonebwoy if properly pricked by his conscience, and if they have any regrets would have been pricked to organise concerts or shows and or set up funds to assist victims of MenzGold since he and his colleagues’ ambassadorial roles and influence in Menzgold have resulted in a national disaster.
Nam 1 is noted to have initiated such schemes every two years. From 2012(SF Gold Ghana Limited; his first gold deal which got him arrested by police) then menzbank in 2014.

When BoG started chasing him he changed Menzbank into Menzbanc in 2016, he finally rebranded Menzbanc into Menzgold in 2017. After the collapse of Menzgold in 2018, Payboy and ivex minerals were created in 2020 in which many victims of MenzGold were defrauded again at Tarkwa and Accra and here we are in 2022, sidicoinNFT which has almost the same features as MenzGold.

We call on all customers of Menzgold not to patronise this sidicoinNFT in town. We are therefore calling on the relevant security agencies and state authorities to investigate, arrest, and prosecute all those behind this sidicoinNFT and its brand ambassador Stonebwoy without delay

Fred Forson (PRO)

Francis Owusu
Vice President
Cacm Leadership
Accra, Kumasi and Tarkwa