Akufo-Addo orders arrest of all Menzgold directors including NAM1

Warrants have been issued in the name of the president to have Nana Appiah Mensah, the beleaguered Chief Executive Officer of gold-trading firm Menzgold Ghana Limited, and all the other directors arrested. The warrants were issued on Wednesday, January 9 and signed by a circuit court judge. They have been accused en masse of defrauding by false pretences contrary to Section 131 of Act 29/60. The warrants sighted by 3news.com so far are for the arrest of Mr Mensah, Rose Tetteh and Benedicta Appiah. The Inspector General of Police (IGP), any other officer and other officers of the court have been given the powers to arrest the cited directors. They are to be produced them before the court in Accra. The Menzgold imbroglio began on Wednesday, September 12, 2018, when the Securities and Exchange Commission (SEC) ordered the immediate shutdown of the firm. Though Menzgold Ghana Limited initially resisted the order, it succumbed by agreeing to settle customers, who have since been agitated by the freezing of some of their deposits.

• We can’t comply with your shutdown directive – Menzgold snubs SEC

Before the Christmas break, specifically on December 6, 2018, the company asked all staff to proceed on compulsory leave. Branch managers were also asked to operate from the Dzorwulu headquarters of the company for security reasons. Further agreements were also reached with customers to have their deposits paid. But some – most recently those in Kumasi – have still been dissatisfied with the agreements. Their demonstration on Tuesday, January 8, however, ended with the arrest of seven, who were said to have attacked some police officers verbally.

• Menzgold customers get bail as court adjourns case

By Emmanuel Kwame Amoh|3news.com|Ghana Follow @kwame_amoh  ]]>