Where is NAM 1? Conflicting reports inundate media

Conflicting reports about the whereabouts of wanted Chief Executive of troubled gold dealership, Menzgold, Nana Appiah Mensah, is setting the stage for severe media speculation.

While some reports indicate that NAM 1, as he is popularly known, has been arrested in Dubai over a botched gold transaction, others report that he is calling shots and diffusing tensions in Ghana his hideout.

In all of this, however, authorities have remained tight-lipped, leaving the public to speculate.

Some say the claim that Nana Appiah Mensah has been arrested in Dubai is a hoax.

Arrested in Dubai

State-owned newspaper, Daily Graphic, reported on Monday morning that its sources say NAM 1 has been in the grips of Dubai police since December 4, 2018 – that is even before his arrest warrant was issued last week.

His arrest, according to the newspaper, follows an alleged misrepresentation to security authorities in Dubai by a Dubai based company.

Meanwhile, a warrant for the arrest of the embattled businessman was issued only week by a circuit court in Accra after his investment company failed to refund client’s monies.

IIf the Graphic Online story is confirmed, it means the arrest warrant was issued almost a month after his arrest in Dubai.

This begs the question: did the state not know about the December 4 arrest?

The Statesman, a news outlet with close links to the government, has also reported on the Dubai arrest, adding that “the arrest follows huge pressure by the government of Ghana on the law-enforcement agencies and financial regulators to bring the failed company boss to book.

Reason for arrest in Dubai

Myjoyonline.com cannot independently confirm the report by the state-owned, Daily Graphic, but the newspaper gives the following account of the Dubai arrest:

The sources indicate 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, according to the sources, the Dubai company had been duped by some Ghanaians previously.

Horizon Royal Diamonds and Menzgold duly established contact, however, before the deal could be struck, persons privy to the discussions presented themselves to Horizon Royal Diamonds with the promise of a better deal, to which officials of the Dubai-based company fell for.

It turned out that Horizon Royal Diamonds alleged later that it parted with no less than $51 million for which no gold whatsoever 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.

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 proceeded to supply 750kg of gold to Horizon Royal Diamonds, at an agreed price of $28 million at the time of supply.

 “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. He wanted his money to come and sort out the current situation with his company, but the guys rather reported him to the Dubai authorities accusing him of fraud. That is why he was arrested but God willing, he will be out by Wednesday to return to Ghana,” a source close to Nana Appiah Mensah told Graphic Online.

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.”

“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.”

credit: myjoyonline.com

Publish on Apt

Do you have any Social, informational, educational or entertaining stuff that should be featured on www.aptnewsghana.com?

Please submit your stories, pictures, and videos to us via WhatsApp: +233548388489 or click on the icon on your screen. Alternatively, email us: aptnewsghana@gmail.com

RSS APO Group – Africa-Newsroom: latest news releases related to Africa

  • Coronavirus: African Union Member States reporting COVID-19 cases as of 25 September 2020, 6 pm September 25, 2020
    African Union Member States (55) reporting COVID-19 cases (1,437,339) deaths (35,009), and recoveries (1,185,054) by region: Central (57,388 cases; 1,075 deaths; 50,027 recoveries): Burundi (476; 1; 462), Cameroon (20,712; 418; 19,440), CAR (4,804; 62; 1,837), Chad (1,171; 82; 1,003), Congo (5,005; 89; 3,920), DRC (10,578; 271; 10,070), Equatorial Guinea (5,018; 83; 4,509), Gabon (8,716; 54; […]
  • Coronavirus - Malawi: COVID-19 Daily Information Update (25th September 2020) September 25, 2020
    New cases: 17 Total confirmed case: 5764 Total active cases: 1407 Total recovered: 4178 (17 New) Total number of tests conducted: 52121 (348 New) Total deaths: 179 (0 New)Distributed by APO Group on behalf of Ministry of Health and Population, Republic of Malawi.Media filesDownload logo
  • Coronavirus: Updated influenza vaccine advice targets protection of elderly and health workers September 25, 2020
    Download logoAmid a potential global shortage in influenza vaccines and the ongoing COVID-19 pandemic, the UN health agency has advised countries to protect the elderly and health workers first. The updated recommendations from the World Health Organization (WHO), come as the northern hemisphere braces for the seasonal bug, which claims hundreds of thousands of lives from respiratory-related […]
  • Coronavirus: US$35 billion price tag to end the acute phase of the pandemic September 25, 2020
    Download logoThe ACT-Accelerator is the only global initiative offering a solution to speed up the end of the COVID-19 pandemic. Launched on 24 April 2020, it combines public and private sector expertise and institutions from around the world to accelerate the development, regulatory approval, scale-up, delivery and equitable allocation of COVID-19 tests, treatments and vaccines. The […]
  • Coronavirus - Rwanda: Update COVID-19 (24 September 2020) September 25, 2020
    Download logoTen (10) new COVID-19 cases were identified out of 2158 samples tested today. This brings the cumulative number of confirmed cases to four thousand, seven hundred, and eighty-nine (4789). To date, three thousand, and fifty (3050) patients have recovered and been discharged, including fifty-five (55) in the past 24 hours. The number of active […]
  • West and Central Africa: Flooding Situation as of 25 September 2020 September 25, 2020
    SITUATION OVERVIEW As of 25 September, flooding has affected around 1.7 million people in West and Central Africa, with many regions recording excess rainfalls. The impact in 2020 is particularly severe, and the number of people affected exceeding last year’s totals, when floods affected 1.1 million people in 11 countries. While seasonal rains are expected […]
  • Infrastructure for Peacebuilding: The role of infrastructure in tackling the underlying drivers of fragility (September 2020) September 25, 2020
    Download logoIntroduction The global agenda on conflict and peacebuilding has drastically changed over the past fifty years. If the twentieth century agenda was dominated by conflicts between national states, today the concern has shifted towards contexts that combine state fragility with protracted and intractable conflict, often involving alliances between non-state groups and regional and international […]
  • Coronavirus - Africa: Conflict, climate crisis and COVID-19 pose great threats to the health of women and children September 25, 2020
    Protect the Progress: Rise, Refocus, Recover - 2020 Progress Report on the Every Woman Every Child Global Strategy for Women’s, Children’s and Adolescents’ Health (2016–2030) Download Report: https://bit.ly/3mUckkU Fragile gains made to advance women and children’s health are threatened by conflict, the climate crisis and COVID-19, according to a new report from Every Woman Every […]
  • Tens of thousands forced out of school by floods in Sub-Saharan Africa September 25, 2020
    Download logoTens of thousands of children in Sub-Saharan Africa have been forced out of school or seen the start of their academic year delayed after heavy floods drove them from their homes and destroyed classrooms, Save the Children said today. The organisation is urging governments to step up repair work on schools and provide temporary […]
  • Food and Agriculture Organization (FAO) steps up response to Zambia’s locust invasion September 25, 2020
    Download logoThe next phase in the massive control operation against African Migratory Locust (AML) in Zambia is expected to begin today. The Food and Agriculture Organization of the United Nations (FAO) is working closely with the Government of Zambia and other partners to protect crops, pastures and livelihoods from the pest, under the US$500 000 […]
About Editor 600 Articles
Joe Bright Nyarko Journalist/Communication Researcher. Environment & Sustainability Advocate. Managing Editor of aptnewsghana.com, a non-profit news portal with bias towards environment and sustainability issues, rural development policies and gender & inequality.