A retired police officer who first investigated and prosecuted Nana Appiah Mensah popularly known as NAM1, has revealed how the latter defrauded several people in 2012.
Per a report sighted by YEN.com.gh on Classfmonline.com, Corporal David Normanyo stressed that if the Menzgold CEO had been jailed at the time, several thousands of innocent investors would not have had their monies locked up with the troubled gold-trading firm as is the case at the moment.
According to the retired officer, no sooner had he retired from the service a year later than the case against NAM1, in which he defrauded 53 people within the Weija enclave through a company known as SF Gold Ghana Limited, for which he was being prosecuted in court, lost steam and frittered eventually.
Recounting the arrest of NAM1 on Class FM, Corporal Normanyo said: “Somewhere in 2012, I was then a police officer; a detective at the Weija police station, which we popularly called SCC.
“Then this gentleman and his associates were operating a company they called SF Gold Ghana Limited where they succeeded in defrauding some 53 Ghanaians and a report was made to the police and then I was charged to investigate [the matter]."
He added that the investigation led to the arrest of NAM1 and one other person, William Atsu Tekpor and it was revealed that the two conspired to defraud the complainants and were eventually put before Circuit Court 9 in Accra.
Corporal Normanyo continued by saying, “The case was ongoing and a year later, I exited the police service, and, so, I stopped following the case but when this Menzgold issue popped up, I tried to find out who was behind it and it turned out to be this same gentleman, and, so, I found out from my colleagues at Weija district what happened to that case and I was told they stopped going to the court."
However, he lamented that if that case was pursued to its logical conclusion, NAM1 would have been put in jail and he wouldn’t have been able to scam over 60,000 Ghanaians, millions of dollars.
Explaining the modus operandi of NAM1 back then, Corporal Normanyo said: “He [NAM1] got people to pay various sums of money to him under the pretext of buying and selling Brilliance, a Chinese saloon car, to them on hire purchase.
“So, he will take a percentage of the sum of the cost of the car and he would never deliver the car. He went even to the extent that people who did not even see the car were made to pay comprehensive insurance premium to his company.”
Stating the particular case he investigated, Corporal Normanyo alleged that: “Nana Appiah Mensah got a room in Dansoman and rented it to multiple prospective tenants. He also styled himself as a football agent and collected monies from young guys who said they wanted to play football. He promised to promote them but didn’t.”
When quizzed as to why NAM1 was not arrested in 2013 despite the issuance of a bench warrant, Corporal Normanyo said he became so powerful because he had a lot of resources under his command and he is a very smart guy as he’s able to use the institutions.
NAM1’s Menzgold Company Limited has failed to pay its customers their dividends since August 2018 after the Securities and Exchange Commission (SEC) shut it down over regulatory infractions.
Several demonstrations from frustrated clients have led Ghanaian authorities to issue a warrant for the CEO’s arrest.
Meanwhile, the Ghana Police Service has waded into the confusion surrounding the arrest of Nana Appiah Mensah, CEO of Menzgold.
After many reports going back and forth on his arrest, the police have finally confirmed that NAM1 has been arrested in Dubai.
In an official statement, the police said Nana Appiah was in the custody of Dubai police, and would update Ghanaians on the procedures soon.
Following confirmation of NAM1's arrest, a high-powered government delegation will be moving to Dubai to negotiate for the extradition of Menzgold CEO, Nana Appiah Mensah, popularly known as NAM1.
The delegation includes Deputy Attorney General, Joseph Dindiok Kpemka, a representative from the Economic Organised Crime Office (EOCO), the Bureau of National Investigation (BNI) and National Security.
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