The Ghana Police Service has deposited the GH₵2.5 million received from Businessman Nana Appiah Mensah, popularly known as NAM 1 at the Bank of Ghana.
According to reports, NAM 1 gave the Ghana Police Service GHC2.5 million in cash to distribute to customers of his gold-dealing business, Menzgold.
The Company previously stated that it would start paying out on matured investments starting on Friday, October 20, 2023. In order to start this process, the money needed to be given to the police.
In a latest development, the Ghana Police Service in a tweet on X (formerly Twitter) confirmed that it has received GH₵2.5 million from NAM 1 upon the advice of the Office of the Attorney-General on Friday, October 20, 2023.
“The Police, on the advice of the Office of the Attorney-General, on Friday 20th October 2023, received an amount of GH₵2.5 Million from suspect Nana Appiah Mensah, popularly known as Nam 1,” the statement read.
POLICE DEPOSIT GH₵2.5 MILLION RECEIVED FROM NANA APPIAH MENSAH AT THE BANK OF GHANA
The Police, on the advice of the Office of the Attorney-General, on Friday 20th October 2023, received an amount of GH₵2.5 Million from suspect Nana Appiah Mensah, popularly known as Nam 1. pic.twitter.com/L04ZwLqU1R
— Ghana Police Service (@GhPoliceService) October 24, 2023
It continued, “The amount is part of investigations into petitions received from some customers of MenzGold Ghana Company Limited and Brew Marketing Consult Limited, currently before the Accra High Court against suspect Nana Appiah Mensah, popularly known as Nam 1.”
Meanwhile, the Police stated that they will soon communicate to the general public when they will start distributing the funds to the customers of Menzgold.
The Securities and Exchange Commission, working with other state agencies, shut down the Company’s operations in September 2018 as a result of suspicions that the company lacked the necessary licenses for either undertaking deposit taking or engaging in gold trading as it claimed to do.
Since many years ago, Menzgold has served as a recipient of gold collectibles that customers have purchased after depositing them at a related marketing firm.
