Interpol arrests NAM1 in Dubai

He was re-arrested after he won a court case.

The court which pronounced judgment Tuesday morning is said to have acquitted and discharged him.

The court also reportedly ordered the Dubai-based company which called for his arrest and later prosecution, to pay him all outstanding debts.

The Public Relations Officer of Menzgold, Nii Armah Amaterfio said the embattled CEO has been re-arrested upon an order by the Ghanaian authorities.

He told Accra FM that "He was re-arrested in Dubai. This was after the Interpol in Ghana issued an alert that he was being investigated."

NAM 1 was being held on remand at the Al Barsha police cell.

He faced a criminal charge of misdemeanour in Dubai which is equivalent to a Second Degree Felony in Ghana but has won in a court ruling.

Thousands of Ghanaians are anguished over the possible loss of their investments, estimated at millions of Ghana cedis in Menzgold, whose gold dealership business was unregulated, and thus was directed by the Security and Exchange Commission to stop receiving new deposits.