Akufo-Addo’s association with NAM 1 encouraged people to invest with menzgold – Sorogho

A former Member of Parliament for Madina, Alhaji Amadu Sorogho is alleging that Nana Appiah Mensah, the CEO of embattled gold dealership firm Menzgold was a close friend of the first family.

Speaking on Inside Politics on Radio XYZ 93.1 Wednesday afternoon, Mr Sorogho said he is reliably informed the businessman is a friend of Nana Akufo-Addo, and the two have had several meetings – a reason many Ghanaians invested with Menzgold.

“Nana Appiah Mensah is close to the president. In fact he has pictures with the president and that is the reason people trooped to invest so much with Menzgold,” Alhaji Sorogho said stressing that many affected customers of the defunct company have openly disclosed they were encouraged to invest with Menzgold because of the endorsement of state officials.

Alhaji Sorogho believes the president has a responsibility to calm the nerves of the thousands of aggrieved customers to prevent any future unrest that may occur from their frustrations.

The business man, whose firm was ordered by government to halt its gold dealership business in September 2018 over authorization breaches, was arrested in the United Arab Emirates (UAE) on December 7,2018 over an alleged “deal gone bad”, the Ghana Police said on Monday.

It is emerging that the police in Dubai has charged NAM 1 for fraud.

A high powered Ghanaian delegation has gone to Dubai to begin talks with Dubai authorities on the next step to take over the matter.

The delegation includes Deputy Attorney General, Joseph Kpemka, a representative from the Economic Organised Crime Office (EOCO), the Bureau of National Investigation (BNI) and National Security.

NAM 1’s Menzgold, which took deposits from over 60,000 Ghanaians, is unable to pay the mouthwatering dividends promised the customers after the Securities and Exchange Commission (SEC) ordered the closure of the gold dealership firm.



Extraditing NAM 1 Could Be Refused

Renowned lawyer Nana Obiri Boahen is skeptical CEO of Menzgold Ghana Limited Nana Appiah Mensah will be released to Ghana, following his arrest in Dubai.

The disgruntled customers of Menzgold may have heaved a sigh of relief following news of NAM 1’s arrest, but Nana Obiri Boahen says he may not be trialed in Ghana.

“We are told he defrauded some company in UAE so they will deal with him in accordance with the UAE law”, he told Kwame Minkah on Ete Sen on Radio XYZ 93.1.

“….I am not discouraging the delegation that has gone to Dubai, but the authorities there can decide to keep him there, he added.

However, he believes the laws will deal with NAM 1 when he is brought to Ghana.

The Deputy General Secretary of the ruling New Patriotic Party (NPP) also cautioned the security agencies to be “serious with the security of the people” and ensure that unscrupulous persons do not bolt from the country at the blind side of security agencies.