10:56, 23.Jan 2019
Chief Executive Officer (CEO) for Menzgold Ghana Limited, Nana Appiah Mensah (NAM1), has pleaded with security officials in the country to unfreeze the bank accounts of Menzgold, his personal account and the accounts of his subsidiaries in order to undertake transactions and draft a plan to pay customers whose investments have been locked up.
Addressing the press for the first time after being released on bail from police custody, on Monday 19 August 2019, NAM1 explained that so far as government has frozen his accounts and confiscated his assets he cannot pay the over 16,000 customers owed by his firm.
He implored government “to unfreeze our company’s and my personal bank accounts and assets to utilise these as vehicles to get productive in order to meet our liabilities owed to our customers and some business associates in a bid to resolve our liabilities immediately. As of now, Brew Marketing Consult, Menzgold and I cannot credit or debit any bank account in Ghana. This is why it is highly imperative to consider this kind request”.
Mr Mensah was recently granted bail by the court in Ghana following his return to Ghana from Dubai where he had been in custody for about nine months.
NAM1 is facing 13 counts of defrauding by false pretences, money laundering, abetment and carrying on deposit-taking business without licence contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act.
He arrived in Ghana on 11 July 2019 and was immediately picked up by the Criminal Investigations Department of the Ghana Police Service.
NAM1 has been accused of defrauding his customers of about GHS1.68 billion.
According to the charge sheet, the money was from 16,000 people who invested a total of GHS1,680,920,000 in the company.
NAM1 on 9th April 2019 won the case of fraud levelled against him in Dubai.
The court which pronounced judgment also ordered the company, with which he had issues to pay him all outstanding debts.
Horizon Royal Diamond, which owes Menzgold were ordered to pay 750kg of gold valued at USD39 million.
In addition to unfreezing his accounts, NAM1 wants government to help him retrieve the money for onward payment of his clients.
He said government should assist Menzgold “to make full recovery of the amount owed Menzgold by Horizon Diamond in Dubai”.