An Accra Circuit Court has issued a bench warrant for the arrest of embattled founder of MenzGold Ghana Limited, Nana Appiah Mensah, also known as NAM1.
He has been accused of the offense of defrauding by false pretense contrary to section 131 of Act 29/60.
Two other individuals, Benedicta Appiah and Rose Tetteh, are also to be arrested by the police.
This comes on the back of series of demonstrations in Accra and Kumasi by some Menzgold customers.
Meanwhile, the Police Criminal Investigations Department (CID) has also declared Nana Appiah Mensah wanted.
The CID boss in an interview with an Accra Based Radio, Asempa FM, on Wednesday, said The International Criminal Police Organization, (INTERPOL) with the presence in 194 countries has been placed on red alert for the arrest of NAM1.
By the nature of the warrant, Ghanaians are also charged to arrest the businessman and two others.
NAM 1 is believed to be in South Africa or Nigeria with his family.
Reports say NAM 1 has been out of the country since September last year, following agitations by customers of his firm for a refund of their investments.
In 2018, over two hundred customers of Menzgold customers besieged the premises of the company’s head office at Dzorwulu to demand payment of their locked up investments.
On December 19, some 100 retired and active Police Officers at the Kasoa Divisional Police Command in the Central Region also filed a writ at the Accra High Court against the company.
Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC).
According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.
This, the SEC said was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”
The company was however, cleared to continue its “other businesses of assaying, purchasing gold from small-scale miners and export of gold.”
Despite initial protests, Menzgold complied with the directive. However, failed to fully pay its numerous aggrieved customers the value on their gold deposits as well as their entire investments.
