Menzgold CEO, BUSTED in UA
Nana Appiah Mensah, the Chief Executive Officer Menzgold Ghana Company Limited, a gold dealership company has been arrested
According to undisclosed souces, the business tycoon was picked up in Dubai on Saturday by The International Criminal Police Organization
His arrest, according to sources, is not in relation to the mess his company has caused in Ghana, in which menzgold, the supposedly trading hub is believed to be a ponzi scheme, and unable to pay back thousands of customers their investments worth several millions of dollars.
The arrest, which was first reported by the Statesman Newspaper’s online portal, is believed to have occurred after a complaint was filed by an individual in that country, claiming he has been duped in a gold deal by Mr. Appiah Mensah the CEO of Menzgold
A very close source to Nana Appiah Mensah, NAM1 has confirmed the arrest of his friend, but refused to give further details of the arrest.
According to sources, “the Dubai dealer, a national of the United Arab Emirates reported that his company, Horizon Royal Diamonds DMCC, had attempted to close a deal with Appiah Mensah involving 750 kilos of gold with the value of about US$51 million.
But NAM1 is said to be issuing a countersuit alleging that Horizon Royal Diamonds DMCC rather owes Menzgold $28 million.
Back in Ghana, Nana Appiah Mensah has been declared wanted by Interpol over his company’s inability to pay investors their monies, together with two other directors of the company. An arrest warrant has been secured to have them brought before the law to answer a charge of defrauding by false pretense.
The Criminal Investigations Department of the Ghana Police Service had also indicated that it has sent notices to all 194-member states of INTERPOL to get him arrested wherever he would be found.
He was recently reported to be in South Africa and Nigeria.
According to the Statesman Newspaper, officials of Ghana’s embassy in the UAE have also been able to visit Appiah Mensah in detention. The contact became possible once Interpol issued an alert.
Officials of EOCO in Ghana are also said to have made contact with NAM1 who is currently being held in police custody.
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