Court decides on auction of NAM1 properties today

The Financial and Economic Division of the High Court will today, Wednesday orders regarding properties of Nana Appiah Mensah, Chief Executive Officer of the defunct gold collectible firm Menzgold Ghana Limited.

This was after Director of the Economic and Organised Crime Office (EOCO) had moved a motion for the properties of NAM1 and Menzgold to be auctioned.

Counsel for Executive Director of EOCO, Abu Issah, moved the application for the auctioning of some properties of Menzgold and NAM1, which was filed in November last year.

“We have a motion on notice for the discharge of confirmation and further prayer for official auction for the properties of respondents (Menzgold and NAM1).”

Counsel said the applicant (EOCO) and other corroborative agencies found out that, the respondents have engaged in alleged money laundering and other serious offences contrary to sections of the Economic and Organised Crime Office.

The court presided over by Justice Afia Serwah Asare-Botwe said the orders of the court would be made ready today.

In January 2019, EOCO froze some accounts of the embattled Chief Executive Officer of Menzgold after he was arrested and charged before a Circuit Court, also in Accra, following complaints by customers claiming to have their funds locked up at Menzgold.

EOCO also froze some landed properties belonging to the CEO and his firms, and then directed all of its regional directors to look out for such assets in the various regions where Menzgold and its related businesses operated.