EOCO must go after Socrates Safo over $1m Zylofon Arts Fund - Preko

Entertainment show host on Kasapa FM and critic, Kojo Preko Dankwa, has called on the Economic and Organised Crime Office (EOCO) to go after Socrates Safo in relations to the confiscation of assets belonging to CEO of embattled Menzgold, Nana Appiah Mensah aka NAM 1.

He told Prince Kwesi Dadzie aka Mr Handsome on Rainbow Radio 87.5Fm that, EOCO should immediately go after him because he was a board member and advisor on the Zylofon Arts Fund which disbursed an amount of $1 million for the creative arts industry.

Kojo Preko Dankwa said, it would be fair for EOCO to go after every single person who had anything to do with the Zylofon brand.

He said, Socrates Safo failed woefully as an advisor on the Zylofon Arts Fund and could not execute an agenda to promote the industry especially in the area of distribution.

He was reacting to the topic on whether the industry treated NAM 1 well over the crisis that has hit the Menzgold company and its related companies including Zylofon Arts Fund.

He said, the amount allocated for disbursement through the fund was huge hence the need for EOCO to invite Socrates Safo and all other persons who served on the board.

Zylofon Media launched the arts fund to support the creative arts industry in Ghana.

The fund was launched to support the creative arts industry financially and creative persons who seek support from the fund dubbed Zylofon Arts Fund.

During the launch of the fund last year, Head of Communication, Samuel Atuobi Baah said the firm intends to start the Zylofon Arts Fund initiative with a million dollar.

According to him, “Zylofon Arts Fund is a fund that is going to support the creative arts industry from all disciplines. From dancers, movie and music producers, artistes to whoever plays a critical role in the creative arts industry stand a chance of accessing this fund”.

“To us at Zylofon Media, we see this as a lifetime investment which would be developed into a creative arts bank. But for now, it’s just a lifetime fund which will benefit the creative people,” he said.

OCO has frozen assets of NAM 1 after securing a court order.

The landed properties include Menzgold Ghana Limited, Menzgold Office Complex, Zylofon Art Complex, Brew Marketing Consult, Star Mad. Football Club, Zylofon Music and Media Company Limited, Brew Energy Company Limited and G. Tech Automobile Service.

Others include two properties located at Trassaco Valley; namely Plot No. 315 and Plot No. 337, a plot of land (No 54) near Oak Street, Trassaco Valley, an uncompleted residence and 510 acres of land.