Economic And Organised Crime Office (EOCO) has today, 29th January, 2019 issued a press release that indicates that the High Court of the land has given it the legal mandate to confiscate all the properties of the embattled gold dealership Company, Menzgold Company.
This News release as was signed by the head of Public Relation, Jacqueline Avotri, for EOCO has stated that some assets of the company including the personal assets of NAM 1 has already being confiscated and calls on the general public to make available information regarding the whereabout of other assets that they might be aware of.
It also calls on family, friends and relatives of NAM 1 and all employees of Menzgold and all its subsidiaries to make available all properties that belong to NAM 1 or Menzgold and it’s subsidiaries in their possession or risk prosecution as it will be deemed contempt of court order.
Some of the properties seized include, lands and buildings, cars, subsidiary companies, football club etc.
Below is the news release on the issue :
It is unclear what the government seeks to do with the various confiscated assets but your bet can be good as mine as it would seem government is trying to make an intervention to defray some of the principal of investors in the company if it will be enough at all.
Nsemwoha will bring you various developments on the issue at stake.