Interpol red alert: NAM 1 risk 25 years in prison for 5 million euros of fraud

General News on Friday, April 26, 2019

Source: dailyguidenetwork.com

2019-04-26

Interpol has claimed that Nana Appiah Mensah, aka NAM1, the managing director of Menzgold Ghana Limited, the gold collector's firm, has cheated clients of more than 5.4 billion GH ¢.

A document purportedly prepared by Interpol for the Dubai police and entitled "Interpol Red Alert", used to detain NAM1, claimed that NAM1 had been charged with false pretense fraud and money laundering.

However, there are discrepancies in the figures published by Interpol because Interpol's 5.4 billion GH ¢ do not seem to be equivalent to 1.2 million dollars, which is also indicated by the police organization. international.

According to the red alert, Interpol claims that NAM1 allegedly violated "Article 131 of Law 29/60 and Article 1 of the Anti-Currency Law as amended (Law 874).

The arrest warrant, according to the alert, was issued on January 10, 2019 by a Ghana circuit court and the maximum possible sentence, if NAM1 is convicted, would be 25 years.

In its summary of the facts, Interpol stated that "in December 2013, the suspect Nana Appiah Mensah had incorporated two companies, namely Menzgold Ghana Limited and Brew Marketing Consult Limited", adding that "his wife Rose Tetteh and his Sister Benedicta Appiah were directors of the companies. "

The alert stated: "The suspect Nana Appiah Mensah, under a false pretense, has received more than $ 5.4 billion ($ 1.2 billion) in public money, but the $ 15 million in the money. bleached during the acquisition of real estate, high value vehicles and a private jet; he has since left the territory and is believed to be hiding in Nigeria, South Africa or elsewhere. "

Freedom of NAM1

NAM1 was reportedly released by a Dubai court in the United Arab Emirates (UAE) recently after winning a fraud case against him by Horizon Royal Diamonds in connection with an alleged transaction in an amount of $ 51 million.

NAM1 was forced to post a bond of $ 3.5 million and would sue the company that caused his arrest for $ 31 million.

According to reports, he was arrested in Dubai where he reportedly went to recover his money from the company.

Customer establishment

A source close to NAM1 said: "He is making frenzied efforts to find the companies and people who are indebted to him for more money to pay the customers of Menzgold Ghana Limited, whose investments have been blocked. following the closure of the company. "

DAILY GUIDE reported that Dubai prosecutors had realized that a prima facie case might not be established against NAM1 under a 51-year gold deal. millions of dollars. The court therefore began to "relax" the restrictions imposed on it.

List of customers

DAILY GUIDE surveys in February revealed that Menzgold had a total of 4,998 clients, not the estimated 46,000 previously published in the media.