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EOCO Secures Permission To Sell All MenzGold Properties Owned By NAM 1

The Financial and Economic Crimes Division of the Accra High Court presided over by Justice Afia Serwaa Asare Botwe, has given the Economic and Organized Crime Office (EOCO) specific authorization to auction properties belonging to accused fraudster Nana Appiah Mensah.

The order came in response to EOCO’s plea to the court for authorization to auction the bankrupt company’s assets.

Companies such as Brew Energy, G-Tech Automobile Service, Zylofon Art Complex, Brew Marketing Consult, Star Madrid Football Club, and Zylofon Music and Media Company Limited will be sold together with their assets.

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The court also ordered the freezing of two properties in Trassaco Valley: an incomplete residential house and 510 acres of land allegedly owned by NAM 1.

On January 18, 2021, Mr Abu Issa, an attorney for EOCO, stated that EOCO and other law enforcement agencies examined Menzgold and found it guilty of money laundering and other significant charges.

He noted that the motion was based on Sections 2 and 3 of the EOCO Act, 2010 (Act 804), which gave law enforcement agencies the authority to do so.

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To refresh your memory, Nana Appiah Mensah, often known as NAM1, is a well-known scam artist who launched Menzgold, a gold dealership and investment business that guaranteed investors a 10% monthly return on their investments.

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Source: GhArticles.com

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