Home / General News / CID confirms NAM1 in custody  

CID confirms NAM1 in custody  

Nana Appiah Mensah

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.

Source: GNA

Check Also

Cashew sector to fetch Ghana $2.5b – Deputy Minister   

The cashew industry is expected to fetch the nation $2.5 billion in the next five …

Leave a Reply

Your email address will not be published. Required fields are marked *