{"id":1947,"date":"2019-01-14T07:48:17","date_gmt":"2019-01-14T07:48:17","guid":{"rendered":"https:\/\/www.aptnewsghana.com\/?p=1947"},"modified":"2019-01-14T07:48:25","modified_gmt":"2019-01-14T07:48:25","slug":"where-is-nam-1-conflicting-reports-inundate-media","status":"publish","type":"post","link":"https:\/\/www.aptnewsghana.com\/index.php\/2019\/01\/14\/where-is-nam-1-conflicting-reports-inundate-media\/","title":{"rendered":"Where is NAM 1? Conflicting reports inundate media"},"content":{"rendered":"\n

Conflicting\n reports about the whereabouts of wanted Chief Executive of troubled \ngold dealership, Menzgold, Nana Appiah Mensah, is setting the stage for \nsevere media speculation.<\/p>\n\n\n\n

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

In all of this, however, authorities have remained tight-lipped, leaving the public to speculate. <\/p>\n\n\n\n

Some say the claim that Nana Appiah Mensah has been arrested in Dubai is a hoax.<\/p>\n\n\n\n

Arrested in Dubai<\/strong><\/p>\n\n\n\n

State-owned\n newspaper, Daily Graphic, reported on Monday morning that its sources \nsay NAM 1 has been in the grips of Dubai police since December 4, 2018 \u2013\n that is even before his arrest warrant was issued last week.<\/p>\n\n\n\n

His\n arrest, according to the newspaper, follows an alleged \nmisrepresentation to security authorities in Dubai by a Dubai based \ncompany.<\/p>\n\n\n\n

Meanwhile,\n a warrant for the arrest of the embattled businessman was issued only \nweek by a circuit court in Accra after his investment company failed to \nrefund client\u2019s monies.<\/p>\n\n\n\n

IIf the Graphic Online story is confirmed, it means the arrest warrant was issued almost a month after his arrest in Dubai. <\/p>\n\n\n\n

This begs the question: did the state not know about the December 4 arrest?<\/p>\n\n\n\n

The Statesman, a news outlet with close links to the government, has also reported on the Dubai arrest, adding that \u201cthe 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.<\/p>\n\n\n\n

Reason for arrest in Dubai<\/strong><\/p>\n\n\n\n

Myjoyonline.com\n cannot independently confirm the report by the state-owned, Daily \nGraphic, but the newspaper gives the following account of the Dubai \narrest:<\/p>\n\n\n\n

The\n sources indicate that in 2016, an unnamed official of the Economic and \nOrganised Crimes Office (EOCO) had recommended Menzgold to officials of \nHorizon Royal Diamonds for the supply of huge quantities of gold. That \nrecommendation came because, according to the sources, the Dubai company\n had been duped by some Ghanaians previously.<\/em><\/p>\n\n\n\n

Horizon Royal Diamonds and <\/em>Menzgold<\/em> duly established contact, however, before the deal could be struck, <\/em>persons<\/em>\n privy to the discussions presented themselves to Horizon Royal Diamonds\n with the promise of a better deal, to which officials of the \nDubai-based company fell for.<\/em><\/p>\n\n\n\n

It\n turned out that Horizon Royal Diamonds alleged later that it parted \nwith no less than $51 million for which no gold whatsoever was supplied.<\/em><\/p>\n\n\n\n

Officials\n of Horizon Royal Diamonds later reverted to Menzgold\u2019s Nana Appiah \nMensah in 2018, to supply them the gold, upon which request he is said \nto have demanded an undertaking not to be linked to the transaction with\n Just Gold Company Limited, the company Horizon Royal alleges it paid \nthe $51 million.<\/em><\/p>\n\n\n\n

That\n undertaking duly arrived, spelling out Menzgold\u2019s disconnection with \nthe deal said to have gone bad and its lack of liability. Following that\n undertaking, <\/em>Menzgold<\/em> proceeded to supply 750kg of gold to Horizon Royal Diamonds, at an agreed price of $28 million at the time of supply.<\/em><\/p>\n\n\n\n

 \u201cPer\n the arrangement between the two companies, it is now worth $39 million \nand Nana had gone there to facilitate the retrieval of the money when \nthe SWIFT transfer account details the guys in Dubai provided turned out\n to be fake. He wanted his money to come and sort out the current \nsituation with his company, but the guys rather reported him to the \nDubai authorities accusing him of fraud. That is why he was arrested but\n God willing, he will be out by Wednesday to return to Ghana,\u201d a source \nclose to Nana Appiah Mensah told Graphic Online.<\/em><\/p>\n\n\n\n

The source said <\/em>Menzgold<\/em>\n had duly reported the fake SWIFT detail to EOCO, insisting that \u201chis \narrest has nothing to do with Ghana police or Interpol; he only wanted \nhis money to come and sort out <\/em>Menzgold<\/em> customers.\u201d<\/em><\/p>\n\n\n\n

\u201cHe 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.\u201d<\/em><\/p>\n\n\n\n

credit: myjoyonline.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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. […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[16],"tags":[294,295],"class_list":["post-1947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-menzgold","tag-nam1"],"yoast_head":"\nWhere is NAM 1? 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