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12.04.2019 General News

Police To Trigger NAM1 Extradition After 30 Days—Kpemka

Staff Writer
News Nana Appiah Mensah, CEO of Menzgold
Nana Appiah Mensah, CEO of Menzgold

But Deputy Attorney General, Mr Joseph Kpemka denies that NAM1 is in the grips of Interpol at the behest of Ghanaian authorities.

“That is not accurate at all. Government is not holding Nana Appiah Mensah. After the court hearing [in Dubai] I got the information that he was acquitted and discharged from an official source.

“Within the laws of that country, United Arab Emirates, the complainant has 30 days within which to lodge an appeal. Within that period, they will still hold him until it elapses then there is no appeal and he is released. The CID is working on that. After 30 days they will trigger the processes to necessary that will ensure that he comes back,” Mr Kpemka explained.

Over GHS 200 million locked up

Official records show at least GHS 200 million have been locked up in Menzgold.

The Finance minister Ken Ofori-Atta revealed this during a durbar with army officers in which the President, Nana Akufo-Addo, was present.

The information, which was in response to a question, reveals for the first time the extent of loss Menzgold customers have been exposed to after an undisclosed number of them bought into their business pitch of paying 7% to 10% returns on special gold collectibles bought and deposited with the company.

The question from an army officer also opened the lid on the level of involvement of security officers in the business that is believed to have attracted a wide spectrum of Ghanaians including religious leaders.

Already 53 soldiers, in January 2019, have sued Menzgold Ghana Limited, for failing to pay back ¢2.5 million in investments.

The company began crumbling in September 2019 after the Securities and Exchange Commission ordered it to shut down its “gold” dealership operations.