NAM1 release to recover $ 39 million to pay customers – Menzgold asks the government

General News on Tuesday, June 4th, 2019

Source: 3news.com

2019-06-04

Menzgold Ghana Limited, a gold distribution company, has called on the government to take steps towards the "immediate release" of its executive director in conflict, Nana Appiah Mensah, from the detention from the UAE government.

In a recent statement, the company asked the Ghanaian government to revoke Interpol's arrest warrant against Mr. Mensah, more commonly referred to as NAM1, or to accept a bond. for the man who is in a UAE prison since last December.

This, said the company, will allow the once-renowned business magnate, NAM1, to facilitate the recovery of some $ 39 million from Dubai Gold Corporation, Horizon Royal Diamond, as well as other amounts from its debtors. of the whole world.

Emirati, English, American and Ghanaian lawyers from NAM1 provided the Ghanaian government with a detailed communication on the recovery of Horizon Royal Diamond Menzgold funds and others around the world.

"We urge the government to respectfully revoke Interpol's red notification decree or to accept a bond for the immediate release of our Menzgold Managing Director so that he will continue to search for 750 kg of merchandise." Gold, currently valued at US $ 39, legally offered by Horizon Royal Diamonds. obstruction of justice, "Monday's statement said.

He explained that the publication of NAM1 would allow him to "freely communicate and meet" with Menzgold badociates and partners who have been willing to help the gold company meet its financial obligations to its customers and its debts.

The statement signed by the company's communications officer, Nii Armah Amarteifio, indicates that the partners' decision to help Menzgold settle its financial obligations stems from a "favorable judgment" that would have been made by NAM1 to Dubai on April 9th.

NAM1 was reportedly acquitted and acquitted by the Emirati court of allegedly ordering the Dubai-based company, which demanded his arrest and prosecution, to pay him all outstanding debts.

Menzgold said he wanted to "resolve and immediately resolve these disturbing problems of the last few months … in order to continue our activities as Ghana's gold hub".

"We hope that the government will soon make a decision on these troubling issues, to allow an immediate and amicable resolution, in the best interests of both our clients, our staff, the company and our customers. the general public, as we seek to: continue to contribute to national development, "the statement concluded.

Context

In August, the Bank of Ghana issued a notice stating that Menzgold Ghana Limited was not licensed and did not have the power to solicit, receive, invest or pay dividends or returns. to its customers, which is covered by section 6. (1) of the 2016 Law on Banks and Specialized Deposit Institutions (Law 930).

He also referred to imminent sanctions, saying that after several warnings to Menzgold, he had begun discussions with the relevant regulatory authorities to punish them for breaking the law.

Although Menzgold called the bluff the central bank, he was forced to close in September 2018 by the SEC.

Stop

Nana Appiah Mensah, who was declared wanted in Ghana on January 9, is since December 7, 2018 under the custody of Dubai authorities, who have been involved in investigations into a "suspicious" case with gold that had gone wrong within the Emirati jurisdiction.

Following an Interpol alert triggered by the CID of the police, Dubai officials informed Ghana that this man, who was facing possible charges of fraud under false pretenses and money laundering, was under their care.

Previously, thousands of company clients who had blocked their investments in the company had been wondering for months why Nana Appiah Mensah had not been arrested for alleged violations of the law.

A series of pickets and demonstrations organized by the injured customers took place mainly in Accra and Kumasi, where many of them have invested money for interests described as outrageous.

Clients petitioned President Nana Akufo-Addo and the Minister of Finance but said they did not receive a favorable response from them.