Information reaching #YourNo1NewsHub is that The Chief Executive Officer of Menzgold, Nana Appiah Mensah, popularly referred as NAM1 has been arrested in Dubai.
His arrested follows a bench warrant that was
issued by a Circuit Court in Accra on January 9,2019 for his arrest for failing to pay back monies owed to investors in his gold dealership firm.
The online portal of the Daily Statesman
newspaper, quoting sources from Interpol,
reports that Nana Appiah, aka Nam1, was
arrested following a complaint by a gold dealer
who alleges that he has been duped by the
According to the newspaper, the Economic and
Organised Crime Office (EOCO), has confirmed
that it has established contact with the detainee in Dubai.
Nam1 is said to have jumped bail conditions set
by the Bureau of National Investigations (BNI)
after he became a subject of investigation by
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.
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.