The Financial and Economic Crimes Division of the Accra High Court, presided over by Justice Afia Serwaa Asare Botwe has granted express permission to the Economic and Organized Crime Office (EOCO) to sell properties of Nana Appiah Mensah popularly known as NAM 1.
The order followed a motion filed by EOCO praying the court to allow it to auction the properties of the defunct company.
The companies that will be sold along with its assets include Brew Energy, G-Tech Automobile Service, Zylofon Art Complex, Brew Marketing Consult, Star Madrid Football Club, Zylofon Music and Media Company Limited.
Also, two properties located at Trassaco Valley, an uncompleted residential property and 510 acres of land said to belong to NAM 1 were also frozen by the court.
On January 18, 2021, lawyer for EOCO, Mr Abu Issa, submitted that EOCO and other law enforcement agencies investigated Menzgold and found out that it had engaged in money laundering and other serious offences.
The motion, he said, was premised on Sections 2 and 3 of the EOCO Act, 2010 (Act 804) which gave the law enforcement agency the power to undertake such action.