Dubai Police deny arresting NAM 1

Dubai Police deny arresting NAM 1

The headquarters of the Dubai police has denied knowledge of the arrest of the CEO of embattled gold firm Menzgold, Nana Appiah Mensah, as widely reported in the media, according to a report by Starfmonline.com.

Checks with the police in Dubai revealed that they had not arrested any Ghanaian national in the last few weeks in relation to a gold scam as has been reported in Ghana by several media outlets.

We have not arrested any Ghanaian national with that name [Nana Appiah Mensah] in our system,” A Dubai intelligence officer reportedly told Starr News’ Ibrahim Alhassan.

READ ALSO: Menzgold CEO NAM1 arrested in Dubai

The latest revelation by the Dubai Intelligence Unit follows widespread reports in Ghana on Sunday (January 13, 2019) night that the Menzgold boss had been arrested in Dubai.

The reports claimed that NAM 1, who has been declared wanted by INTERPOL for charges of defrauding by false pretense, was arrested over alleged misrepresentation to security authorities in Dubai.

He was reportedly in Dubai late last year with the hopes of retrieving some $39 million owed Menzgold by a Dubai-based company, Horizon Royal Diamonds DMCC, for the supply of gold, according to a report by the Daily Graphic.

READ ALSO: Photo of how NAM1 lived in a single room before rising to fame and riches leaks

Quoting multiple sources, the report said that in 2016, an unnamed official of the Economic and Organised Crimes Office (EOCO) recommended Menzgold to officials of Horizon Royal Diamonds for the supply of huge quantities of gold.

That recommendation came because the Dubai company had reportedly been duped by some Ghanaians previously.

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

Horizon Royal Diamonds alleged later that it parted with no less than $51 million for which no gold whatsoever was supplied, the report added.

READ ALSO: Why NAM1 was arrested in Dubai

YEN.com.gh is following this new twist and would update readers with fresh information that come up.

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Source: Yen Newspaper

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