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MENZGOLD BOSS WINS DUBAI CASE: WHAT’S HIS NEXT STEP AFTER COURT ORDERS COMPANY TO PAY HIM?

General News

The embattled chief executive officer of Menzgold, Nana Appiah Mensah (known as NAM 1), has won his court case in Dubai but it remains unclear whether this opens the way formally for legal officials to request his extradition to Ghana.

The embattled chief executive officer of Menzgold, Nana Appiah Mensah (known as NAM 1), has won his court case in Dubai but it remains unclear whether this opens the way formally for legal officials to request his extradition to Ghana.

Starrfm.com.gh reported that the court, which pronounced judgment yesterday morning, also ordered Horizon Royal Diamonds DMCC, the company with which Mr Mensah had a dispute, to pay him all outstanding debts.

Fraud accusations

NAM 1 has been in detention in Dubai since November over a gold deal which went wrong.

His Emirati former business partner Danny Joude, the gold dealer who leads Horizon Royal, accused him of fraud in a gold transaction with the Dubai-based company worth $23 million (nearly GHC114.6m).

With misdemeanour charges and a possible two-year sentence hanging over his head, he had been unable to leave the emirate since then. Menzgold officials however repeatedly claimed that he intends to return to Ghana and reimburse all clients who invested in the firm.

After the verdict, Mr Mensah, in an apparent affirmation of his Christian faith – not something for which he was previously known ‒ tweeted: “Jesus Christ is the same yesterday, today and forever. #JehovahKnows #JehovahSees #PRAISETHELORD”

The case

A Dubai-based businessman made accusations of fraud against Mr Mensah in May 2018. Unaware that he was on the Dubai Police wanted list after skipping bail in Ghana, Mr Mensah travelled to the United Arab Emirates before the end of the year, in the hope of receiving a huge sum of money due him as a result of his earlier dealings with the company.

He was arrested when he presented his passport to undergo immigration formalities. The deal in dispute involved more than $23m.

Several customers of Mr Mensah’s defunct gold dealership have staged protests in Accra, Takoradi and Tarkwa, calling on the government to intervene and help them retrieve their locked-up cash.

Speaking before the case was determined, Ghana’s consul general in Dubai, Samata Gifty Bukari, told the Accra-based Kasapa FM that the officer in charge of consulate issues, who has followed the NAM 1 case keenly, suggested that Mr Mensah hoped he would be able to settle his debts to old customers of Menzgold.

“When NAM 1 had bail, my briefing is that he planned to look for monies to come down to Ghana and pay the teeming customers but Interpol was also on his neck,” Ms Bukari said.

“As soon as he was granted bail, Interpol got him arrested. He’s hopeful of being done with the case in Dubai soon, then … he will attend to the several thousands of Menzgold customers, because he himself is not a free man.”