Menzgold boss NAM 1 reportedly Arrested in Dubai

Nana Appiah Mensah, the CEO of Menzgold has reportedly been arrested in Dubai.

Popularly known as NAM 1, his arrest comes after an Accra circuit court issued a warrant on Wednesday, January 9, 2019 for his arrest.

The Daily Statesman‘s online portal broke the news on Sunday night and it reports that he was arrested on Saturday following a complaint by a gold dealer in Dubai who claims he was duped by the Ghanaian.

The arrest was executed by Interpol.

The gold dealer reported that his company, Horizon Royal Diamonds DMCC was on the verge of closing a 750 kilos of gold deal with NAM 1 which was believed to be worth US$51 million, the report adds.

However, NAM 1 is reportedly issuing a counter-suit, alleging that Horizon Royal Diamonds DMCC rather owes Menzgold $28 million.

According to the Statesman, the Ghana Embassy in UAE has visited him at the detention centre.

Source: Yaw Sarpong |


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