The Ghana Police Service has announced that it has deposited GHC2.5 million into the Bank of Ghana from the former CEO of the now-defunct gold dealership firm Menzgold, Nana Appiah Mensah.
The police say they deposited the cash after getting approval from the Attorney-General and the minister of justice. According to the police, the money is related to the petitions filed by MenzGold Ghana Company Limited and Brew Marketing Consult Limited customers in the case against suspect Nana Appiah Mensah in the Accra High Court.
“The Police, on the advice of the Office of the Attorney-General (AG), on Friday, October 20, 2023, received an amount of GH₵2.5 million from the founder of the defunct Menzgold company, 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 police said in a statement.
After being dragged before a court on September 19 for allegedly defrauding his clients, the CEO of the now-defunct Menzgold Ghana Limited was granted bail in the amount of GHC500 million with four sureties, none of whom were found to be justified.
NAM1 recently reported that 5,000 customers have been paid by Menzgold. Before beginning the payment validation process, the company had requested all relevant documentation from customers. But in a later message, the company explained that 60% of the claims submitted contained inconsistencies, making them ineligible for settlement.
The defunct company also proposed that customers with locked-up funds enrol for a fee of 650 cedis in order to find out whether or not they would be eligible for reimbursements.
In the meantime, NAM1 has entered a not guilty plea and been released on bail in the amount of GH500 million.
