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MenzGold Boss NAM1 Arrives Home. Due For Court

NAM1 had been standing trial in Dubai since his arrest in that country in December 2018 in connection with an alleged gold scandal.

, boss, aka arrives home…and preparing for court – Ghana Police.

Embattled Chief Executive Officer of Limited, Nana Appiah Mensah is popularly known as NAM1 has returned to Ghana.

NAM1 had been standing trial in Dubai since his arrest in that country in December 2018 in connection with an alleged gold scandal.

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Unconfirmed reports reaching Confirm Radio suggest that he is being probed by officers of the Financial Crimes Unit of the Ghana Police Service at the Police Headquarters, Accra.

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He arrived in Ghana on Thursday, July 11, 2019.

On arrival Thursday, July 11, the Menzgold CEO reported to the CID Headquarters for interrogation in preparation for his possible prosecution.

Confirm Radio’s source reported from the CID headquarters that Mr Appiah Mensah was accompanied by his lawyers.

His family members and friends were gathering at the police station to offer solidarity, she added.

Police sources say the embattled businessman will be detained and processed for court.

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He is being provisionally charged with taking deposits without a licence, money laundering and defrauding by false pretences.

Mr Appiah Mensah is expected to be brought before the court on Friday, July 12.

His lawyers say he has been accorded all the courtesies he deserves.

“The Ghana police have been extremely professional, responsible, and respectful in this matter,” lead lawyer, Kwame Akuffo said. 

NAM1’s arrival is likely to rekindle the hope of thousands of customers who invested huge sums in his gold derivative business and are afraid of losing their investments since the company closed down late last year.

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The Securities and Exchange Commission (SEC) in September 2018 asked Menzgold to cease its gold derivative business as that amounted to deposit-taking which it was not licensed to do.

Some of the disgruntled investors have accused SEC of orchestrating the loss of their investments.

Tuesday they participated in a street protest against what organisers called hardships in the country.

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They accused the of wilfully collapsing the company together with their investment.

The investors will be watching with bated breath, how the prosecution progresses. But above all they will be praying and hoping to recoup, if not the interest, the principal sums they invested in the company.

Confirm Radio newsdesk will keep you updated.

Author Profile

Dela
Dela
Excited Blogger. Emmanuel Dela AHADJIE is daringly a passionate blogger who seeks to inform his followers and readers with accurate updating news on the go. He is a lifestyle, celebrity and sociology blogger who grabs the bull by its horn. He doubles up as The Managing Editor of The Momus Newspaper.WhatsApp:+233245838678

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