Two arrested for removing air conditioners from Zylofon Media office

The Economic and Organised Crime Office (EOCO) has stated that it will continue to protect assets of troubled Menzgold Ghana Limited until the court directs otherwise.

It explained that the office was mandated by law to preserve the assets of the company and its affiliates.

“We are not collecting money for anybody, but we believe what we are doing will lead to substantially addressing the issue in the long run,” a Deputy Executive Secretary of the EOCO in-charge of Operations, Nana Antwi, said at a news conference in Accra on Thursday.

He also stated that EOCO was not responsible for the refund of investments of Menzgold customers.

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New Arrests

Nana Antwi disclosed that two persons were on January 30, 2019 arrested for removing items from the premises of Zylofon Media at East Legon in Accra.

The two, who were said to have removed 10 air conditioners, are currently in custody at the East Legon Police Station.

Nana Antwi, however, declined to reveal the identities of the suspects until after investigations.

Arrests

For her part, the Head of Public Affairs at EOCO, Ms Jacqueline Avotri, explained that the arrests were aimed at enforcing a court order confirming the freezing of properties of Menzgold and other associated companies.

She warned that any act by any person that would obstruct the work of EOCO would be dealt with according to the law.

Ms Avori urged the public to assist the EOCO by volunteering information that would facilitate investigations to telephone numbers: 0244381441, 0302634363 and 0302665559, and through an email address: eoco@eoco.org.gh

Background

Thousands of distraught Menzgold customers have had their cash locked up in the company since August 2018.
Some hit the streets to demand the release of their funds while Menzgold and the authorities engaged in war of words.

The Securities and Exchange Commission (SEC) on September 12, 2018 directed Menzgold to shut down their investment operations with immediate effect for contravening the Securities Industry Act, 2016 (Act 929).

The SEC order also warned Menzgold to halt advertising their investment business and desist from creating new contracts with depositors.

The whereabouts of the Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah, was unknown until news emerged that he had been picked up in Dubai for engaging in some deals gone bad.