Why NAM1’s private jet cannot be impounded

The CEO of Zylofon Media and Menzgold Ghana, Nana Appiah Mensah, made headlines last year for buying a $41 Million Gulfstream Aerospace G-IV Private Jet.

This however boosted investors confidence and his gold dealing firm is believed to have recorded a significant number of clients since.

Some investors think that should Menzgold collapse, the sale of the Private Jet alone would be enough to sort them out.

But checks conducted has revealed that the private jet of the millionaire cannot be impounded though he may be banned from traveling outside the country should Menzgold fail to return to business, that’s if he is still in the country.

Owners of the Private Jet would come at the due time to take possession of their property. The owners of the Private Jet, T.I.A Holdings might have leased the aircraft to Nana Appiah Mensah for some years. Once something is leased to you, you own it for the years agreed.

Canada-based Ghanaian Prophet Kofi Danso lied to the world that his church members bought him a private jet as a birthday gift. He was later exposed that the jet leased to him for three years.

In NAM1’s case, it could be that he owns it but decided to purchase in someone’s name or through a shell company to avoid taxes or a possible grounding should Menzgold collapse.

Investors may keep their eyes off the jet for now which seems to be the CEOs major source of boosting investors’ confidence. He has recently mentioned the jet in series of posts and even went ahead to release a letter to reaffirm his ownership.