Ghanaian police to start extradition of Menzgold leader after 30 days – Deputy AG

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Deputy Attorney General Joseph Kpemka said that the extradition procedures of the chief executive of MenzgoldNana Appiah Mensah, will be triggered by the police in a month.

Nana Appiah Mensah, known as NAM 1, was acquitted and tried fraud charges on Tuesday, April 9 by a Dubai court.

The Dubai court ordered the plaintiff Horizon Diamonds to pay NAM 1 outstanding debts. NAM1 has been in the custody of the Dubai authorities since November 2018 for a gold market that went wrong.

Many customers, especially Menzgold's customers whose investments were locked into the collapsed gold dealer account, welcomed the acquittal of NAM1. They hope that he will return to Ghana with enough money to settle them.

The enthusiasm for the acquittal of NAM1, however, was short-lived as Nii Armah Amarteifio, Menzgold's PR manager, announced that his boss had been arrested again.

Nii Armah Amarteifio told the media on Wednesday, April 10, 2019, that the new arrest of NAM 1 was at the request of the Ghanaian authorities.

"He was arrested again in Dubai. It was after Interpol's intervention in Ghana that it was investigated, "Amarteifio told Accra radio.

Photo: Joseph Kpemka is Deputy Attorney General.

But Mr Kpemka denies that NAM1 is under the control of Interpol at the request of the Ghanaian authorities.

"It's not accurate at all. The government does not hold Nana Appiah Mensah. After the hearing [in Dubai] I had information that he had been acquitted and released from an official source.

"In the legislation of this country, the United Arab Emirates, the petitioner has 30 days to appeal. During this period, they will retain it again until the time has elapsed. No appeal will be filed and he will be released. The CID works there. After 30 days, they will trigger the necessary processes for him to come back, "said Kpemka.

More than GHS 200 million locked up

Official records show that at least 200 million GHS were locked up in Menzgold.

Finance Minister Ken Ofori-Atta revealed it during a meeting with army officers in which the president, Nana Akufo-Addo, was sitting.

This information, which answered a question, reveals for the first time the extent of the loss suffered by Menzgold's customers after an undisclosed number of them bought the money by paying between 7% and 10% of returns on special gold collectibles purchased and deposited with the company.

The issue of an army officer also revealed the degree of involvement of security officers in the company that would have attracted a wide range of Ghanaians, including religious leaders.

Already 53 soldiers in January 2019 sued Menzgold Ghana Limited for failing to repay $ 2.5 million in investments.

The company began to collapse in September 2019 after the Securities and Exchange Commission ordered it to end its activities in the "gold" dealerships.