The Economic and Organised Crime Office (EOCO) has frozen the bank accounts of CEO of gold dealership firm Menzgold, Nana Appiah Mensah, Joy News has learnt.
The Office according to sources is also working towards being granted a court order which will allow it to seize all other assets of the CEO who is popularly known as NAM1.
Government on Monday dispatched a high powered delegation to the United Arab Emirates capital, Dubai to see to the extradition of NAM1 who according to the police was arrested after a gold deal gone wrong.
Police say the fugitive was arrested on December 7, more than a month after the Circuit Court issued a warrant for his arrest.
NAM1 is wanted for defrauding by false pretence and allegations of money laundering for failing to pay clients’ investments.
Many believe he has absconded with the monies, leaving customers agitated and uncertain what will happen to the millions of cedis locked up with the company.
EOCO has succeeded in freezing his accounts.
This may come as good news but Joy News is also learning from the lawyer for the aggrieved customers, Amanda Clinton that most of the accounts have already been depleted.
But there is also another emerging narrative that may make the State’s case against NAM1 difficult.
The company’s Communications Director Nii Armah Amateifio told Joy News last week his boss has not absconded but has only left the shores of the country in search of money to pay the customers.
There are reports confirming the Menzgold narrative.
A detailed insider knowledge told to the Daily Graphic claimed that NAM1 had indeed travelled abroad to retrieve some $39 million owed Menzgold by a Dubai-based company, Horizon Royal Diamonds DMCC, for the supply of gold.
That story also claimed that his arrest in Dubai was simply because of misrepresentation to security authorities in Dubai by a Dubai based company that he could be connected to an alleged botched gold business with a Ghanaian company”. quote “
In other words, he could not be guilty of any illegal dealings in Dubai.
Again, according to this narrative, the thousands of costumer’s funds have not been locked up, he has not duped anybody and has only legitimately invested clients’ money in the gold business.
The narrative says that the gold was properly traded as they have been licensed to do by the Minerals Commission the Precious Minerals Marketing Corporation (PMMC).
According to this narrative it just that the company that bought the gold had failed to pay up and NAM1 was out there working on behalf of his customers to retrieve the money.