CID confirms NAM1 in Police Custody

Thursday 11th July, 2019
Nana-Appiah-Zylofon
Accra, July 11, GNA - The Chief Executive Officer of Menzgold, Nana Appiah Mensah is in the custody of the Criminal Investigations Department (CID), Police said on Thursday.

The police said following an Interpol alert issued for the accused, NAM1 was handed over to Interpol Ghana by Interpol Dubai on Thursday, for the CID to continue with their investigations which started in 2018.

Menzgold is holding up the investments of thousands of customers, who have since September, last year, been unable to access both their interests and principal.

The company was paying between seven and 10 per cent in monthly interest rates on investments, but both the Bank of Ghana and the Security Exchange Commission (SEC) had warned the public over the risk of their investments, likening it to a Ponzi scheme.

The SEC, subsequently, directed Menzgold to stop receiving deposits, amidst protests from both the company and its customers.

GNA