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General News of Friday, February 22, 2019
Source: Graphic.com.gh
2019-02-22
CEO of Menzgold, Nana Appiah Mensah
Menzgold Ghana Limited's clients were fortunate to be able to recover their deposits from the distressed gold distribution company.
Finance Minister Ken Ofori-Atta, in a conversation with Ghana Armed Forces (GAF) officers at the Burma camp in Accra on Friday, February 22, badured officers that the CEO's badets of Menzgold, Nana Appiah Mensah, would be liquidated to repay the deposits of customers of the company in difficulty.
He added that the government was in the process of liquidating the properties and badets of Nana Appiah Mensah in order to reimburse the company's clients in excess of GH ¢ 200 million.
"I think we realized that maybe over 200 million … is exceptional … [Nana Appiah Mensah] has been apprehended in Dubai and I am sure that a committee will be formed to see how to wind up and that anything that can be found can be given to those who gave money, "said Mr. Ofori -Atta.
"But the government is not going to spend for problems of this nature where we are very clear about the fact that it's not allowed and you know the risks you've taken."
Context
In December 2018, 53 soldiers dragged Menzgold to the High Court for failing to repay their total investment of 2.5 million GH ¢.
The plaintiffs – from the Ghanaian navy, the Ghana Air Force and the army – are asking the High Court to order the repayment of their money.
According to the complainants, all the efforts made to recover the money had been in vain.
On summons, they want the court to order reimbursement of their money, between 18,000 and 244,000 GH.
The amounts cited on the court documents filed represented the principal claimant.
The plaintiffs argued that even if the defendant claims to be unable to pay their interest, they are entitled to their principals.
Nana Appiah Mensah, aka NAM 1, is currently on trial in Dubai, where he faces a misdemeanor charge over a $ 23 million deal, which went wrong.
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