- EOCO to go after Shatta Wale and other Zylofon signees over properties belonging to the subsidiary company of Menzgold
- This has been necessitated as part of measures in retrieving properties of Menzgold to pay customers their locked up cash
News reaching YEN.com.gh indicates that Zylofon signee, Charles Nii Armah Mensah, known in Showbiz as Shatta Wale, could soon lose his East Legon mansion and some vehicles.
Ghana’s self-proclaimed Dance hall King and a couple others could be at risk as there are plans by Economic and Organised Crime Office (EOCO) to confiscate properties as part of measures in retrieving properties of Menzgold and its subsidiary companies .
The buildings and cars that were given to the signees, were supposed to be transferred into their names upon completion of their contract expected to end in a number years.
There are moves to start seizing assets of the embattled gold dealership firm as part of efforts in recouping locked up cash of customers who have been on the heels of government to intervene.
It is unclear when officials of EOCO would start confiscating these properties but sources indicate that a number of them have been listed out and background on their true ownership done which now paves the way for the EOCO to act.
YEN.com.gh earlier reported that The Economic and Organised Crime Office (EOCO), had frozen the accounts of the Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah, popularly known as NAM 1.
The Executive Director of EOCO, K. K. Amoah, confirmed that his outfit has frozen three accounts of the NAM 1.
According to him, the EOCO was still looking for more accounts of NAM 1 to freeze and sought public support to locate other accounts either locally or internationally to freeze them pending the outcome of investigations into allegations he has defrauded some persons by false pretenses.
It would be recalled that in March last year, Zylofon Music offered a juicy package of $1.5 million together with a house and a Rolls Royce car to the musician.
Though officials of Zylofon refused to confirm the rumours of the package, they said the three-year contract included a non-disclosure clause which prevents both parties from giving details of the deal.
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