EOCO granted express permission to auction NAM1, Menzgold properties – Report

Court rules on motion to auction NAM1’s properties

NAM1 was engaged in money laundering, EOCO

EOCO freezes accounts and landed properties of NAM 1

The Economic and Organised Crime Office (EOCO) has been given express permission to auction and sell properties belonging to the Chief Executive Officer of defunct gold dealership, MenzGold, Nana Appiah Mensah.

The order, according

Read full article.to a MyNewsGh report, was granted at the Financial and Economic Crimes Division of Accra High Court, presided over by Justice Afia Serwaa Botwe.

As part of the exercise, companies belonging to Nana Appiah Mensah will be auctioned and sold along with assets.

The said properties, according to the portal include Zylofon Art Complex, Brew Energy, G-Tech Automobile, Brew Marketing Consult, Zylofon Music and Media Company Limited, Star Madrid Football Club.

In addition, the court has frozen two other properties, which is an uncompleted residential property at Trassaco Valley and another 510 acres of land also said to belong to NAM1.

The move, however, comes after EOCO filed a motion praying the Accra High Court to permit it to auction and sell properties belonging to the embattled gold dealership firm.

Director of Economic and Organized Crime Office (EOCO), Abu Issah, has also disclosed that the CEO of defunct Menzgold Ghana Limited, Nana Appiah Mensah, otherwise known as NAM1, was engaged in money laundering.

He made this known when he appeared before the financial and economic division of the High Court on Tuesday, January 18, 2022.

Lawyer Abu Issah then moved the application for the auctioning of some properties of NAM1 and Menzgold Limited.

“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,” Lawyer Abu Issah said in court.