We will hold NAM 1 if needed – CID

General News of Thursday, July 11, 2019

Source: starrfm.com.gh

2019-07-11

The CID announced that it would arrest the general manager of Menzgold Ghana Limited, Nana Appiah Mensah, as the case may be, in pursuit of the investigation into the cases it has been facing since 2018.

The CEO, known as NAM1, was picked up by the CID Thursday at noon at Kotoka International Airport when he disembarked from a flight from the UAE.

He had been detained in Dubai since last year and had recently won his trial against Horizon in the $ 39 million lawsuit.

Addressing reporters Thursday on the developments, the chief of police affairs, CID, DSP Juliana Obeng, confirmed that NAM1 was under the custody of the CID as a result. an alert from Interpol.

"Interpol Dubai today handed it to Interpol Ghana for the continuation of investigations that began in 2018," she said.

In response to reports that NAM1 should be brought to justice on Friday, the Obeng DSP said, "It is following a process. If he is to be detained, he will be and he is not supposed to be so, we will of course leave him. "

It is estimated that £ 200 million of depositors' money has been stuck at the collapsed gold distribution company Menzgold.

Menzgold Ghana Limited was down last year after the Securities and Exchange Commission (SEC) ordered it to suspend its activities with the public. Several efforts by targeted customers on the company to get their money have not resulted in any positive results.

According to the Commission, Menzgold did not have permission to trade in collectibles in gold and thus contravened the Securities Industry Act of 2016 (Law No. 929).

The collapse of the gold trading company had been imputed to the directive.

President Akufo-Addo described the Menzgold crisis as a tragic phenomenon for the country, which seemed to have unfolded in the public eye and affected many people "despite warnings from official institutions".

He instructed the relevant authorities to unravel the complexities of "what happened in the Menzgold saga, I encourage all Ghanaians to learn the lessons for the future, even as the institutions of the state". strive to solve the problem, engage in criminal activities, are brought to justice. "