The Economic and Organised Crime Office (EOCO), says it has secured a court order confirming the freezing of assets of Menzgold and other related businesses belonging to its CEO, Nana Appiah Mensah (NAM 1).
EOCO in a release Tuesday, January 29 and signed by Head of Public Affairs Unit, Jacquline Avotri, advised family members of the wanted fugitive as well as associates in possession of such properties to submit them to their EOCO in their own interest.
“By this news release, all employees of the affected companies, relatives and friends who are in possession of any of such properties are to surrender same by the authority of the high court to the Economic and Organized Crime Head Office and Regional Offices in their own interest.
The statement warns that “Failure to do so will constitute contempt of court which will attract the appropriate sanctions.”
The listed properties include Landed Properties and Vehicles of Menzgold Ghana Limited, Menzgold Office Complex, Zylofon Art Complex, Brew Marketing Consult, Star Madrid Football Club, Zylofon Music and Media Company Limited, Brew Energy Company Limited as well as G-Tech Automobile Service.
Read also: List of businesses owned by Menzgold and Zylofon Media boss
The rest are Two (2) properties located at Trassaco Valley (Plot No. 315 and Plot No. 337), Plot of land (No. 54) near Oak Street- Trassaco Valley, Uncompleted Residence and 510 acres of land.
NAM 1 who was arrested in the UAE in December 2018, for allegedly defrauding a business partner, has been declared a wanted man by a Circuit Court in Accra.
It follows similar accusations by some 60,000 persons who invested in his Menzgold firm, which has been described as experts as a Ponzi scheme.
Read also: Warrant issued for Menzgold CEO's arrest
The investors were promised a 10% returns per month on their gold deposits, however, ever since the Securities and Exchange Commission (SEC) ordered a shutdown of the non-regulated aspect of the business, Menzgold has defaulted in paying the returns and also failed to pay the initial deposits.
The customers are said to include bankers, small-scale miners, top military and police officers, clergymen and women and Ghanaians living abroad.
Latest Stories
-
Walt Disney appoints ‘Moana’ writer Jared Bush as creative head of animation studios
31 mins -
Macy’s to hire more than 31,500 employees for holiday season
46 mins -
Putin says Russia is ramping up drone production tenfold
1 hour -
Huawei’s $2,800 tri-fold phone hits stores amid supply concerns
2 hours -
Hershey Co lays off some workers this week
2 hours -
FedEx quarterly profit disappoints as demand for speedy delivery wanes
2 hours -
France nears new government as Barnier proposes cabinet to Macron
2 hours -
Husband of Russia’s richest woman arrested on murder charge after office shootout
2 hours -
Accused in France’s mass rape trial apologises to Gisele Pelicot
2 hours -
Mild weather brings surge in migrant crossings to Spain’s Canary Islands
3 hours -
Putin ally warns West of nuclear war over Ukraine
3 hours -
Kentucky sheriff held over fatal shooting of judge in court
3 hours -
Ousted president quits Gabon politics, calls for wife’s release
3 hours -
‘Mining revenues stay in Accra, not mining communities’ — Chamber of Mine CEO criticises distribution
3 hours -
Pope Francis allows devotion to Medjugorje, where Virgin Mary said to appear
4 hours