NPP Gov’t Officials Lining Up To Buy Menzgold Properties



NAM 1’s Family Monitoring New EOCO Boss Over Seized Assets

The Herald, has picked up credible information that some greedy Ministers and other elements in the Akufo-Addo government, are lining up to purchase properties of the troubled gold dealership firm, Menzgold Ghana Limited at ridiculous prices through auctions.

The company and its owner, Nana Appiah Mensah, have landed properties scattered across the country, including East Legon, and had been confiscated by the Economic and Organised Crime Office (EOCO) as party of investigations into activities of MENZGOLD.

Other properties belonging to Menzgold, especially cars have also been seized by the EOCO, and parked at the premises of the state security agency.


However, The Herald is informed that, plots are being hatched to sell off the properties at low prices to some selfish government officials through auction. The amount raised, will not meet what is owed the aggrieved customers by the company.

The auction is being schemed through deceptive court processes to give it a legal backing.

This newspaper, is informed that yesterday’s picketing at the premises of EOCO by some hundreds of people claiming to be aggrieved customers of the defunct gold dealership firm, could have been staged by the selfish government officials interested in buying the assets of the troubled company.

They demanded the liquidation of the seized assets of the company. But The Herald’s information is that, the protest was organized to give the impression that government was under pressure from the customers of the company to have them paid.

But this paper is informed that one of Akufo-Addo’s ministers, name withheld, has already expressed interest in buying a building belonging to the company located at East Legon-Accra. Same minister is reported to be interested in buying a Rolls Royce vehicle believed to be owned by Nana Appiah Mensah.

The minister is said to be in touch with the Dubai authorities, and working on preventing the release of Nana Appiah Mensah, who has persistently indicated his readiness to pay customers of his company upon his release by the Emiratis.

Claims that Nana Appiah Mensah, suggested to the government of Ghana delegation led by Bryan Acheampong to sell off his properties to settle his clients back home, has been denied by his family, who is in constant touch with him.

It has been reported that he made the suggestion to a delegation from Ghana, comprising representatives from the Economic and Organised Crime Office (EOCO), Bureau of National Investigation (BNI) and National Security that visited him in prison in Dubai between January 16 and 18, 2019, but this according to family sources is untrue.

The Menzgold customers, had claimed that the government institution, has not been able to come clear on the state of the seized properties.

EOCO early in 2019, secured a court order to freeze properties of Menzgold Ghana Limited, as well as seven other associated companies, including Menzgold’s Office Complex, Zylofon Art Complex, Brew Marketing Consult, Star Madrid Football Club, Zylofon Music and media company, Brew Energy Company Limited, G- Tech automobile service.

In an interview with Citi News, a spokesperson of the group, Godfred Ankomah, called on EOCO to appoint a liquidator to oversee the equitable payment of their investments.

“We are aware they [EOCO] have seized some assets so we want quick liquidation. People are going through a lot of hardship so EOCO should facilitate their process so that assets of NAM 1 are liquated so that people get their monies. We are also calling for transparency, at least we should know what they have seized. In case if the assets are going to be liquidated, a committee should be formed which Menzgold customers should be part.We don’t want a situation where assets will be sold among top officials at a cheaper rate.”

“So far, the way EOCO has handled the whole issue is a bit sluggish and lackadaisical in approach. It took customers to picket before we started getting information, it shouldn’t be so. It is almost a year since this thing happen and till now, there is no way forward. The seizure of the assets happened long ago, yet no one is giving us any information. They should disclose all information because people are dying”, he added.

Earlier, lawyer for the customers, Amanda Clinton, described as welcoming the confiscation of Menzgold’s assets by EOCO because to her it was the first real confirmation from a recognized state body and the Government of Ghana that Menzgold Ghana engaged in some fraudulent dealings.

She said “it is certainly good news” for Menzgold customers in their quest to retrieve their locked up investments.

“This is the first real confirmation from a state body and the government that a crime has been committed, because before people had labeled it, but when Menzgold took the SEC to court, the matter wasn’t determined in terms of a fraud that had been committed. So this is the first time a court has been made that clear… So that’s very good.”

The customers have also said 15 of their members have died.

According to them, the deaths are as a result of their inability to retrieve their monies from the troubled firm.

Frederick Forson, a member of the coalition of aggrieved customers of Menzgold told Citi News, the government must furnish them with details of work being done to retrieve their monies for them.

“We want the government to tell us about the work they are doing in respect of our locked up funds. According to EOCO, they are more or less finished with the work that they are doing. It is left with the Attorney General who has the power to go to the court for a litigation order.”

“We want the government to give us the official briefing as to what they are doing. As we said in our statement, 15 of our members are already gone. Last week, we buried one of them in Tema so we want the government to come out with the payment plan, he added.

Meanwhile, officials of EOCO, has assured customers of troubled gold dealership firm, Menzgold Ghana Limited that the properties seized are under good condition.

EOCO’s Deputy Director, Daniel Antwi, revealed that his outfit has taken steps to ensure the preservation of the properties in question.

The assurance was in the wake of customers’ protest yesterday in front of EOCO’s premises to demand the liquidation of the seized assets of the company.

But addressing the customers after meeting its leadership, Mr Antwi, called for calm among the agitated customers as it works to resolve their plight.

“We have gone through the petition with them [customers]. There are some of the issues we were able to address with them but there were others we made them aware that, it was not within our purview to deal with them. But there was one fine assurance. The assurance is that we will continue to use all the information given us to preserve the properties of the company that has gone into the challenge.”


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