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FACTS ON NAM1’s ARREST: Why and how he was arrested in Dubai

Nana Appiah Mensah (CEO – Menzgold Company Ltd)

Exclusive information reaching has it that Nana Appiah Mensah was arrested in Dubai on Friday 11th January, 2019. 

He was not arrested by INTERPOL as is being speculated nor was he arrested in connection with his embattled Menzgold Company. It is believed that he was arrested by his Dubai based business partner in connection to a failed gold business deal.


It is believed that Nana Appiah Mensah landed in Dubai late last year in a bid to retrieve some $39 million owed Menzgold by a Dubai-based company, Horizon Royal Diamonds DMCC, for the supply of gold.

 Our source indicates that in 2016, an unnamed official of the Economic and Organised Crimes Office (EOCO) had recommended Menzgold to officials of Horizon Royal Diamonds for the supply of huge quantities of gold. 

That recommendation came because the Dubai company had been duped by some Ghanaians in the past.

Horizon Royal Diamonds and Menzgold began discussions leading to the establishment of a contract. However, before the deal could go through, another company which was getting inside info concerning the deal showed up, promising Horizon Royal Diamonds a better deal. 

Unfortunately, Horizon Royal Diamonds fell for it and made payments up to $51 million for which no gold was supplied.

Officials of Horizon Royal Diamonds later reverted to Menzgold’s Nana Appiah Mensah in 2018, to supply them the gold, upon which request he is said to have demanded an undertaking not to be linked to the transaction with Just Gold Company Limited, the company Horizon Royal alleges it paid the $51 million to. 

That undertaking duly arrived, spelling out Menzgold’s disconnection with the deal said to have gone bad and its lack of liability. 

Following that undertaking, Menzgold supplied 750kg of gold to Horizon Royal Diamonds, worth $28 million at the time. 

“Per the arrangement between the two companies, it is now worth $39 million and Nana had gone there to facilitate the retrieval of the money when the SWIFT transfer account details the guys in Dubai provided turned out to be fake”, our source added. 

NAM1 came to Dubai for his money to come and sort out the current situation with Menzgold in Ghana, but the guys rather reported him to the Dubai authorities accusing him of fraud. That is why he was arrested.

READ ALSO: NAM1 reportedly arrested in Dubai

It is believed that he will be released by Wednesday 16th January 2019, and will return to Ghana to hand himself in to authorities.

The source said Menzgold had duly reported the fake SWIFT detail to EOCO, insisting that “his arrest has nothing to do with Ghana police or Interpol; he only wanted his money to come and sort out Menzgold customers.”

READ ALSO: VIDEO: It’s time to give your life to Christ because your time is up – Prophet Oduro warns NAM1

“He will come home soon, hopefully by Wednesday he will be freed. The bail bond posted by the Dubai authorities has been met. Ghanaian officials in Dubai even visited him on Sunday and if they are minded to, they could be telling the public the true story of why NAM1 was arrested”, our source added. 

About Kwamina DEXTRO

I believe that everything in this world is possible. The question is “how can it be done?” I am a reserved individual who likes to research on diverse topics, so as to build my knowledge bank and I love to write.

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