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He is to be prosecuted for misdemeanour, the Ghana Police Service has said in a statement, after receiving briefing from a government delegation made up of security and legal officers sent to Dubai to follow up on his arrest warrant after news broke that he had been arrested in Dubai.
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Nana Appiah Mensah
READ MORE: Nana Appiah Mensah arrested in Dubai
“It is the understanding of the Ghanaian delegation that Mr. Mensah faces misdemeanour charges in the UAE and will be made available to Ghana upon the final determination of his current matter in the UAE. His case is next due for court on February 2, 2019” the statement signed by Director General of Public Affairs at the Ghana Police service, ACP David Eklu, read.
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The statement adds that the fugitive Menzgold CEO has been engaged by EOCO and the Ghana Police Service representatives in Dubai and has provided an extensive statement to the security agencies which will be used for investigations into claims of fraud leveled against him by Ghanaians who invested with Menzgold.
His arrest in Dubai coincided with a bench warrant that was issued by a Circuit Court in Accra for his arrest for failing to pay back monies owed to investors in his gold dealership firm.
Menzgold promised clients monthly interest of between 7% and 10% on their "gold collectibles" deposited with the company.
However, the operations of the company was deemed illegal by the Security and Exchange Commission (SEC) for falling to meet regulatory requirements.
READ MORE:Â Hold celebs accountable for misleading people to invest in Menzgold- Financial analyst
Meanwhile, hundreds of customers have their monies locked up in the rogue company.
They have been staging demonstrations nationwide, demanding that the government steps in to compel Nam1 to pay them either their principal or dividends.