General News of Wednesday, 9 January 2019
An Accra Supreme Court has ordered the arrest of all directors of gold-dealership firm, Menzgold Ghana Limited.
The warrant was issued on Wednesday, 9 December 2019 for the arrests of Nana Appiah Mensah (NAM1), Rose Tetteh, Benedicta Appiah, and Abigail Mensah, among others.
The court warrant explained that the accused persons are to help with investigations relating to “defrauding by false pretence contrary to section 131 of 29/60”.
Menzgold has been struggling to pay its customers after it was asked to stop operations of its gold vault market by the Securities and Exchange Commission (SEC) over regulatory infractions.
In a related development, Nii Armah Amateifio, the acting Director of Communication, Menzgold Ghana Limited, says the life of the CEO of Menzgold, Nana Appiah Mensah, is under threat, thus, the opacity surrounding his whereabouts.
The troubled company, since August last year, has not been able to pay its 1.8 million clients’ extra values or principal investments totalling $200 million dollars following a directive to the company by the Securities and Exchange Commission (SEC).
Since that period, NAM1 has not been seen in Ghana. He only tweets or speaks to his radio station, Zylofon FM on the telephone.
There have been claims by some of the company’s aggrieved customers as well as certain people who claim to be close to NAM1 that he is hiding in South Africa or Nigeria.