MenzGold, a gold investment company owned by Nana Appiah Mensah was closed down by the Bank of Ghana and the Security and Exchange Commission after it was accused of not having the right license to operate.
Nana Appiah Mensah, who is also the owner of National Division One League Side Star Madrid was declared wanted and later reported to have been arrested in Dubai over a different crime committed.
Ghanaian who invested with MenzGold have grown agitated after their monies were locked up at the gold investment industry and that has compelled EOCO, which is a government agency which combats corruption in the country to seize all assets of Nana Appiah Mensah including Star Madrid FC, Zylophon Radio and TV, inter alia.
Meanwhile, it has been reported that a Toyota Landcruiser Prado which was given to coach of Star Madrid Michael Osei by the CEO of MenzGold Nana Appiah Mensah to facilitate his work has been seized by EOCO as part of Nam 1’s assets to defray the cost incurred by the mother company of the club.
Michael Osei joined Star Madrid from Liberty Professionals last two years.