The CEO of Menzgold Ghana Limited, Nana Appiah Mensah, has reportedly been arrested.
The young businessman has come under fire after an Accra Circuit Court issued a warrant for his arrest last week.
The arrest warrant follows the failure of Menzgold to refund the investments of aggrieved customers who have their monies locked up with the gold dealership firm.
Over the weekend, Saturday specifically, the Statesman Newspaper’s online portal reported that NAM 1 has been arrested by INTERPOL.
Below are four things you need to know about the said arrest:
1. Where he was reportedly arrested
Nana Appiah Mensah was reportedly arrested in Dubai. The report claims the Economic and Organised Crime Office (EOCO), has confirmed that it has established contact with the detainee in Dubai.
A close source to NAM 1 is also reported to have confirmed his arrest in the UAE, although it is not related to the Menzgold Scandal.
The Menzgold CEO has been in the spotlight in recent months following his company’s inability to pay investors their monies.
2. The alleged crime he was arrested for
There is currently a bench warrant in Ghana for the arrest of Nana Appiah Mensah on charges of defrauding by false pretence.
However, his arrest in Dubai is reportedly not in any way connected to the problems of Menzgold and its customers.
Reports suggest NAM 1 was arrested following a complaint by a gold dealer who alleges that he has been duped by the Menzgold CEO.
The paper reports that “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.”
However, NAM1 is said to be issuing a countersuit alleging that Horizon Royal Diamonds DMCC rather owes Menzgold $28 million.
3. Date the court granted his arrest warrant
Nana Appiah Mensah was declared wanted on Wednesday, January 9, 2019, after his arrest warrant was issued by an Accra Circuit Court.
The warrant was issued for the arrest of NAM 1 and two other directors of the embattled gold dealership firm, Menzgold.
Currently, NAM 1 is not in the country, but there were earlier reports that he was seeking refuge in the United Kingdom (UK)
4. NAM 1 is still wanted in Ghana
Despite being arrested in Dubai, the fact that the arrest was not in connection with the Menzgold scandal means Nana Appiah Mensah is still a wanted man both on and off the shores of Ghana.
Last week, the Director-General of the Criminal Investigations Department (CID), Maame Yaa Tiwaa Addo-Danquah, said her outfit has engaged the International Criminal Police Organization (INTERPOL) to help in the arrest of Menzgold CEO.
DCOP Maame Yaa Tiwaa Addo-Danquah confirmed that NAM 1 is a wanted man in all 194-member states of INTERPOL.
We started this investigation somewhere in December and we have gotten to the level where we are ready to issue an arrest. That is why when we got to know that NAM 1 was not in the country, we initiated the processes of informing INTERPOL so that the 194-member states will help us arrest him,” she said.
