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NAM 1 was involved in money laundering – Report

EOCO freezes accounts and landed properties of NAM 1

NAM 1 faces court charges

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

Director of Economic and Organized Crime Office (EOCO), Abu Issah, has disclosed that the Chief Executive Officer of defunct Menzgold Ghana Limited, Nana Appiah Mensah, otherwise known as NAM1 was engaged in money laundering.

He made this known when he appeared before the financial and economic division of the High Court on Tuesday, January 18, 2022.

Lawyer Abu Issah then moved the application for the auctioning of some properties of NAM1 and Menzgold.

“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,” Lawyer Abu Issah said in court, starrfmonline reported.

According to a starrfmonline report, 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 financial and economic division of the High Court will on Wednesday, January 19, 2022, rule on the motion to auction the properties of NAM1.

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.

Source: www.ghanaweb.com

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