Court to rule on motion to auction NAM1’s properties today

EOCO freezes accounts and landed properties of NAM 1

NAM 1 faces court charges

On Wednesday, January 19, 2022, a financial and economic division of the High Court will rule on the motion to auction the properties of Nana Appiah Mensah, popularly known as NAM 1.

The court’s ruling comes after the Director of Economic and Organized Crime Office (EOCO), Abu Issah, moved a motion in court on Tuesday, January 18, 2022, for the properties of the Chief Executive Officer of defunct gold dealership firm, Menzgold.

Lawyer Abu Issah said, “We have a motion on notice for the discharge of confirmation and further prayer for official auction for the properties of respondents (Menzgold) and NAM1”.

In an application that was filed on November 19, 2021, the counsel stated that the applicant (EOCO) and other corroborative agencies found out that, the respondents (NAM 1, Menzgold) were engaged in money laundering and other acts that are contrary to sections of EOCO.

The presiding judge over the case, Justice Afia Serwah Asare-Botwe, said the orders of the court would be made ready Wednesday, January 19, 2022.

It would be recalled that in January 2019, the accounts and some properties of NAM 1 were frozen by EOCO.

Also, all assets in connection with Menzgold across the country were closed down.