NAM 1’s account frozen – EOCO

By Nana Asare Barimah.

Reliable information available to brightwebtv.com indicates that the bank accounts of the embattled businessman, Nana Appiah Mensah, popularly known as NAM 1, has been frozen.

A source at the Economic and Organised Crime Office (EOCO) said they were in court to secure an order to freeze his other assets, pending investigations.

But he has been charged with defrauding by false pretences after the gold-trading entity failed to pay its clients’ dividends or principal investments since August 2018.

Sensing danger, the Securities and Exchange Commission shut it down over regulatory infractions.

From that period, affected customers of Menzgold have held several demonstrations to demand their investments whiles pleading with the government to intervene and retrieve their monies for them.

The government has repeatedly said taxpayers’ money will not be used to rescue the affected customers but has assured of his arrest to refund the money.

He is currently in custody in Dubai and government is taking steps to bring him back to Ghana to face the laws of the land.