Probe Into Menzgold Saga Still On Course– Police
The Ghana Police Service says it has not suspended investigations into the embattled gold dealership firm, Menzgold, and its beleaguered Chief Executive Officer, Nana Appiah Mensah, popularly known as NAM 1.
This comes on the back of indications that NAM 1 will only return to Ghana after he has been cleared of all misdemeanor charges leveled against him in Dubai.
Speaking to Citi News, Director of Public Affairs for the Ghana Police Service, ACP David Eklu, said the Police Service in Ghana will continue with its investigations, despite this development.
“Discussions were held as to the possibility of bringing him to Ghana to answer or assist with investigations we have already commenced. They gave us the assurance that he will make his first appearance in court on 2nd February and after that if the case is finally determined then they can facilitate his extradition to Ghana to face the court.”
“The discussion, as I gathered from the team is very fruitful and they gave us all the assurance that they will make him available to Ghana authorities as soon as that case is determined.. It does not mean we have truncated investigations. Other processes are ongoing to gather information that will lead to possible prosecution so we have not stopped. Investigation is still ongoing but he is the key to our investigation and that is why we need him to give us a statement but in all that investigation is still ongoing.”
Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC) in September 2018.
According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns with clients, without a valid license.
This, the SEC said was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”
The company has since been met with some lawsuits by aggrieved customers, while its Chief Executive Officer, Nana Appiah Mensah, has been under arrest in the United Arab Emirates since December 08, 2018.
The Economic and Organized Crime Office (EOCO) has also frozen some accounts of Nana Appiah Mensah.
Citi News sources at EOCO say the office also plans to seek out accounts belonging to Menzgold and other related businesses.
EOCO in the coming days, will be applying for a court order, to freeze all landed properties belonging to the CEO and companies.