Court to rule on motion to auction NAM1’s properties on Jan. 19, 2022

The Financial and Economic Division of the High Court will on Wednesday, January 19, 2022, make orders regarding properties of Nana Appiah Mensah, a.k.a NAM1, the Chief Executive Officer of Menzgold Ghana Limited, a Gold dealership firm.

This was after the Director of the Economic and Organized Crime Office, (EOCO) had moved a motion for the properties of NAM1 and Menzgold to be auctioned.

Mr Abu Issah, Lawyer for Executive Director of EOCO, who moved the application for the auctioning of some properties, said, “we have a motion on notice for the discharge of confirmation and further prayer for official auction for the properties of respondents (Menzgold) and NAM1.”

The application was filed on November 19, 2021.

The Counsel said, EOCO and other corroborative agencies found out that the respondents had engaged in money laundering and other serious offences contrary to relevant Economic and Organised Crime legislation.

The Court presided over by Justice Afia Serwah Asare-Botwe said the orders of the Court would be made ready tomorrow, January 19, 2022.

In January 2019, EOCO froze some accounts of NAM1.

EOCO also froze some landed properties belonging to the CEO and his firms, and then directed all its regional directors to look out for such assets in the various regions where Menzgold and its related businesses operated.