The Ghana Police Service has disclosed that it has deposited an amount of GH¢2.5 million it received from Nana Appiah Mensah, the Chief Executive Officer of the defunct gold dealership firm Menzgold, at the Bank of Ghana.
According to the police, they deposited the money on the advise of the Attorney General and the Minister for Justice.
“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.
The police service said the amount is part of investigations into petitions received from some customers of MenzGold Ghana Company Limited and Brew Marketing Consult Limited, currently before the Accra High Court against suspect Nana Appiah Mensah.
“We would like to state that the decision on the disbursement of the money would be determined by the court,” the police service added in its statement.
The CEO of defunct Menzgold Ghana Limited, was on September 19, granted bail to the tune of GH¢500 million with four sureties, none to be justified after he was dragged to court for allegedly defrauding his clients.
Recently, NAM1 disclosed that Menzgold has paid 5000 of its customers. The company had initially requested all necessary documentation from customers to facilitate the payment validation procedure. However, in a subsequent communication, the company clarified that a significant number of submitted claims contained inconsistencies, rendering 60 percent of the claims ineligible for settlement.
Additionally, the defunct company had proposed that customers who had funds tied up should enrol for a fee of 650 cedis to determine their eligibility for reimbursements.
Meanwhile, NAM1 has pleaded not guilty to the charges and was granted bail in the sum of GH¢500 million.
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