The Economic and Organised Crime Office (EOCO) has responded to some fourteen (14) questions posed before it under by a coalition under the Right to Information Act 2019.
Fredrick Forson, the Public Relations Officer (PRO) of the Coalition of Aggrieved Customers of MenzGold (CACM) in a letter to the EOCO sought among others, the state of the assets belonging to MenzGold and its CEO, Nana Appiah Mensah aka NAM 1.
The defunct company and the CEO’s assets are to be auctioned as part of the means to generate funds to defray customers whose funds were locked-up according to a court ruling.
Founded by Nana Appiah Mensah, aka NAM 1, Menzgold Ghana Limited was a fraudulent gold dealership and investment firm that promised customers an average of 7 to 10 per cent monthly returns on investments. It was subsequently shut down by the government when it discovered it was engaging in activities outside the remit if its license.
The firm is reported to have initially traded as Menzbank; then changed to Menzbanc and then finally to Menzgold, due to warnings from the Bank of Ghana about the use of ‘bank’ as a company name for a non-banking entity.
Find below the responses provided by EOCO to the CACM PRO.
