From left: Stonebwoy, Nana Appiah Mensah and Shatta Wale
Reliable information reaching BEATWAVES indicates that two media outlets— Zylofon TV and Zylofon FM— which belong to the embattled Chief Executive Officer (CEO) of Menzgold Limited, Nana Appiah Mensah, have been closed down following a court order empowering the Economic and Organised Crime Office (EOCO) to take over his assets.
It also gathered that Zylofon Music and Zylofon Cash have also been closed down.
A statement issued by the Communications Manager of Zylofon FM and Zylofon TV, Samuel Atuobi Baah, said the two media networks suspended their operations since yesterday.
“Owing to the order by the EOCO dated January 29 and signed by Jacqueline Avotri (Public Affairs), to have all assets of Nana Appiah Mensah frozen, the general public is hereby informed that Zylofon FM and TV will suspend operations with from January 30, 2019,” the statement read.
Other listed assets of Nana Appiah Mensah include Zylofon Art Complex, Brew Marketing Consult, Star Madrid Football Club, Brew Energy Company Limited and G-Tech Automobile Service.
Other are landed properties located at Trassaco Valley, which are on plot number 315, 337 and 54.
The Financial Court in Accra on January 21 ordered that all the assets of Menzgold Ghana Limited, a gold trading firm be frozen, following an application brought before it by EOCO.
The Financial Division of the High Court, presided over by Ms. Justice Helen Amoah, endorsed EOCO’s decision to freeze assets belonging to Nana Appiah Mensah (NAM 1) and accordingly directed that the landed properties and vehicles of all his companies be frozen until further notice.
The EOCO had earlier frozen the accounts of the companies run by NAM 1.
Speculations are rife that moves are underway to freeze assets of the celebrities who were signed on by the embattled NAM 1 on Zylofon Music.
Through Zylofon Media, Menzgold signed several celebrities who were being used for advertisement to lure people to trade with the supposed company.
It was confirmed that celebrities as part of their signing fee received thousands of dollars, official cars, well furnished houses (apartment), among others.
The celebrities who were signed on by NAM1 are Charles Nii Armah Mensah (Shatta Wale), Livingstone Etse Satekla (Stonebwoy), Nana Yaw Kumi (Kumi Guitar), Kwaku Effum Boafo (Obibini), Toosweet Annan and Joyce Blessing.
The rest are Rebecca Acheampong (Becca), Bibi Bright, James Gardner, Lydia Zynnel Zuh, Benedicta Appiah (Sima Brew) and Benedicta Gafah.
The CEO of Menzgold, who has been declared a wanted man by an Accra Circuit Court, was reportedly arrested in the United Arab Emirate (UAE) by security officials on December 4, 2018, for allegedly defrauding a business partner.
NAM 1 is at the centre of heated controversy since the closure of his gold collectible firm in September last year.
A warrant for his arrest was issued by a circuit court in Accra on January 9 after he failed to pay back monies owed to investors in his ‘failed’ company.
By George Clifford Owusu