Artiste manager Bullet has alleged that the Chief Executive Officer of the now-defunct Zylofon Media and Menzgold, Nana Appiah Mensah, popularly known as NAM 1, used Ghanaian celebrities to build public confidence in his business operations.
Speaking in an interview on Angel FM with MC Portfolio, Bullet claimed that NAM 1 had little knowledge about the music industry but intentionally signed popular artistes onto his record label to attract attention and gain credibility for his investment business.
According to him, the strategy was designed to make the public trust Menzgold after seeing well-known celebrities associated with the brand.
“NAM 1, you don’t know anything about music. You made money and wanted people to trust the business you were doing, so you signed celebrities and artistes to showcase themselves. When the public sees these artistes on your label, they will trust you and invest their money,” Bullet alleged.
The Rufftown Records boss further argued that if the incident had occurred in some Western countries, artistes who benefited financially from NAM 1’s operations would have been compelled to refund the money because they were allegedly used to influence public confidence.
He specifically mentioned musicians such as Shatta Wale and Stonebwoy, claiming they were among celebrities used to promote the brand.
Bullet also addressed reports that late singer Ebony Reigns, who was signed to Rufftown Records, once considered joining Zylofon Media.
According to him, there was nothing unusual about the move, explaining that artistes in Ghana often explore opportunities with record labels believed to have strong financial backing.
Meanwhile, Nana Appiah Mensah and his companies continue to face several charges, including unlicensed gold trading, unauthorized deposit-taking, investment inducement, defrauding by false pretences, fraudulent breach of trust, and money laundering.
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