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Former Deputy Attorney General, Joseph Kpemka, says the Economic Organised Crime Office (EOCO) delayed in freezing the accounts of the Chief Executive Officer of now-defunct gold dealership firm, Menzgold.<\/span><\/p>\n In 2019, EOCO froze the accounts of Nana Appiah Mensah also known as NAM 1, months after it came to the fore that Menzgold was operating without a license.<\/span><\/p>\n Mr. Kpemka, the head of a government delegation probing the case at the time, believes EOCO could have been swifter in pursuing justice for aggrieved customers of the gold firm.\u00a0<\/span><\/p>\n \u201cEOCO should have reacted quickly by freezing such accounts immediately it came to its attention. At the time, we had not mounted any civil action against NAM 1 so EOCO had the power to freeze his accounts.\u201d<\/span><\/p>\n His comment follows the customers\u2019 petition to the presidency for an intervention on Monday, September 12, 2022.<\/p>\n The Director of Operations at the Presidency, Lord Commey, who received the petition, assured that the President would consider their demands.<\/p>\n Menzgold\u00a0was asked to suspend its gold\u00a0trading operations\u00a0with the public by the Securities and Exchange Commission (SEC) in 2018.<\/p>\n According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.<\/p>\n The SEC said this was in contravention of \u201csection 109 of Act 929 with consequences under section 2016 (I) of the same Act.\u201d<\/p>\n Menzgold customers have in the past bemoaned the lack of commitment on the part of the government to have their monies paid to them.<\/p>\n They are also unhappy about the\u00a0delay in the prosecution\u00a0of Menzgold\u2019s CEO, Nana Appiah<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Former Deputy Attorney General, Joseph Kpemka, says the Economic Organised Crime Office (EOCO) delayed in freezing the accounts of the Chief Executive Officer of now-defunct gold dealership firm, Menzgold. In 2019, EOCO froze the accounts of Nana Appiah Mensah also known as NAM 1, months after it came to the fore that Menzgold was operating […]<\/p>\n","protected":false},"author":1,"featured_media":1203183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[187],"tags":[],"class_list":["post-1203182","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1203182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1203182"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1203182\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1203182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1203182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1203182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Background<\/strong><\/h4>\n