Police deposit Ghc2.5 million received from NAM1 at BoG

For the court’s consideration, the Police have deposited GH2.5 million that they got from suspect Nana Appiah Mensah, also known as Nam 1. The money is in the Police Exhibit account at the Bank of Ghana (BoG).

On Friday, October 20, 2023, the police got the sum at the Office of the Attorney General’s recommendation.

The police stated in a statement that “the amount is part of investigations into petitions received from some customers of MenzGold Ghana Company Limited and Brew Marketing Consult Limited, currently before the Accra High Court against suspect Nana Appiah Mensah, popularly known as Nam 1.”

According to the police, the court would decide whether or not to distribute the funds.

Menzgold had previously stated that it will start paying out on Friday, October 20, 2023 for investments that had reached maturity. In order to start this process, the money needed to be given to the police.

Read the statement from Ghana Police below:

POLICE DEPOSIT GH₵2.5 MILLION RECEIVED FROM NANA APPIAH MENSAH AT THE BANK OF GHANA

The Police, on the advice of the Office of the Attorney-General, on Friday 20th October 2023, received an amount of GH₵2.5 Million from suspect Nana Appiah Mensah, popularly known as Nam 1.

The said amount has been deposited in the Police Exhibit account at the Bank of Ghana (BoG) for the attention of the Court.

The amount is part of investigations into petitions received from some customers of MenzGold Ghana Company Limited and Brew Marketing Consult Limited, currently before the Accra High Court against suspect Nana Appiah Mensah, popularly known as Nam 1.

We would like to state that the decision on the disbursement of the money would be determined by the court.

Regarding Menzgold

Menzgold Ghana Limited was a sham gold dealer and investment company that made false promises to investors about monthly profits averaging between 7 and 10 percent. After that, the Ghanaian government shut it down.

Nana Appiah Mensah, also referred to as NAM 1, started it. According to reports, the company began trading under the name Menzbank before changing its name to Menzbanc and then, finally, to Menzgold in response to cautions from the Bank of Ghana against the usage of the word “bank” in a company name for a non-banking institution.

In order to freeze all real properties and vehicles owned by Nana Appiah Mensah, the troubled CEO of Menzgold Ghana Limited, the Economic and Organized Crime Office (EOCO) of Ghana obtained a court order in January 2019. Menzgold Ghana Limited, the Menzgold Office Complex, the Zylofon Art Complex, Brew Marketing Consult, the Star Mad. Football Club, the Zylofon Music and Media Company Limited, the Brew Energy Company Limited, and the G.Tech Automobile Service are among the landed properties. On January 8, 2020, a group of Menzgold Ghana Limited’s disgruntled customers gathered at Nana Appiah Mensah’s house to discuss getting their locked-up cash released.

To deter his irate clients, Nana Appiah Mensah fired shots.

Source: Ghanatodayonline.com