Menzgold Brouhaha: aggrieved customers question EOCO over nam1’s frozen properties

The Aggrieved customers of Menzgold in a statement released on July 16, 2020, is questioning the Economic and Organised Crime Office(EOCO) over the freezing of properties belonging to menzgold Ghana limited and its other associated companies. 

 In a press statement released by EOCO and dated 29th January 2019, EOCO states categorically that, it has secured a court order confirming the freezing of all Landed properties and Vehicles of Menzgold Ghana limited which includes Menzgold Office Complex, Zylofon Art complex, Brew Marketing consult, Star Madrid football club, Zylofon Music and a media company limited, Brew Energy company limited among other properties.

But some checks reveal that the former Chief Executive Officer of Menzgold, Nana Appiah Mensah popularly known as NAM1 still possesses all these properties. 

The statement reads” The five Mystery questions EOCO & Government must answer about menzgold SAGA”

Dear EOCO, GOV,

1. Where are all the properties you secured order to freeze?

2. Where are the seized gold worth millions of dollars?

3. What is the status of all the accounts frozen?

4. Was this action to protect the properties for nam1 or for the dying menzgold victims?

5. How did nam1 get access to all the properties and account to sign monetary contract with new artists?

The woes of the embattled firm begun in September 2018 when the Securities and Exchange Commission ordered a shutdown of their trade-in gold collectables.

The license of Menzgold, according to SEC was to buy and export gold.

However, Mr. Appiah and his Menzgold promised investors and traders in their gold collectable market a 10% return per month.

The company has since August 2018, failed to pay investors either their capital or dividend.

Story by Isaac Otoo.

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