Police Confirm Receipt Of ₵2.5 Million From NAM 1
The Ghana Police Service has confirmed receiving an amount of ₵2.5 Million from Nana Appiah Mensah popularly known as NAM 1.
This comes after the company announced a payment of GHC5,000,000 constituting the first bulk payment batch of investments of the defunct Menzgold Ghana Limited customers.
In a statement, the police said it received half of the amount on Friday, October 20, 2023, on the advice of the Office of the Attorney-General.
The amount, the police explained, “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, popularly known as Nam 1.”
It has therefore been deposited into the Police Exhibit account at the Bank of Ghana (BoG) for the attention of the Court, according to the police service.
Meanwhile, the service underlined that the disbursement of the money will be at the discretion of the court.
On October 20, the Chief Executive Officer of Menzgold Ghana Limited, NAM 1 announced five million Ghana cedis (GHC5,000,000) constituting the company’s first bulk payment batch has been successfully made.
He noted that GHC2,500,000 of the total amount covers a full and final settlement of a compromised judgment debt to certain individuals the company is indebted to.
The remaining amount, he said, was to cover over 100 verified customers adding that “the payments range is between GHC4,000 to GHC2,500.000”.
Background
NAM 1 and two of his companies- Menzgold Ghana Company Limited (MGCL) and Brew Marketing Consult Ghana Limited- are standing trial for allegedly defrauding some Ghanaians to the tune of GHC 1.68 billion.
He is slapped with 39 Charges at the High Court.
As part of the charges, he is facing 22 counts of defrauding by false pretence, seven counts each for money laundering and fraudulent breach of trust. He is also facing one count each for inducement to invest, operating a deposit-taking institute without a license and selling gold without a license.
He is said to have retrieved GHc 1.68 billion from unsuspecting customers through the two companies.
