NAM 1 still in the cell at the request of Ghana despite the victory – Menzgold

General News of Wednesday, April 10, 2019

Source: Starrfmonline.com

2019-04-10

Nana Appiah Mensah, CEO of Menzgold Ghana Limited, is still in detention despite her acquittal and acquittal on charges of fraud against him in the United Arab Emirates (UAE), said Nii Amarh Amarteifio, head of communications for the United Arab Emirates. ;business.

According to Amarteifio, his boss, better known as NAM 1, is still in the hands of Gulf state security agents, at the request of the Government of Ghana.

"NAM 1 is doing very well … and is delighted to have won the lawsuit yesterday. However, NAM 1 is still in police custody in Dubai because the Ghanaian police have raised the red flag, "Amarteifio told Francis Abban on Wednesday morning.

Meanwhile, the lawyer of the troubled gold trading company's clients, asked the management to reduce the public relations gimmick and repay its customers.

For months, customers have been demanding payment for their major investments after the Securities and Exchange Commission (SEC) ordered the gold distribution company to cease operations.

Several efforts by targeted customers on the company to get their money have not resulted in any positive results.

"Menzgold [Ghana Limited] should stop the PR exercise and bring the money to the customers, "said Amanda Clinton Wednesday morning in Starr.

Menzgold Ghana Limited was down last year after the Securities and Exchange Commission (SEC) ordered it to suspend its activities with the public.

According to the Commission, it was not allowed to exchange collectibles in gold, in contravention of the Securities Industry Act of 2016 (Law 929).

The collapse of the gold trading company was imputed to the directive.

The Commission, however, strongly denied the accusations against its chief executive, Reverend Daniel Ogbarmey Tetteh, that the charges were indefensible and fallacious.

"I do not think anyone will be right to say that SEC was responsible for the collapse. If the model itself was not viable, it was supposed to happen and it would just be someone looking for someone to wear the cap, "he told Francis Abban at Morning Starr in February.

"All those who say that SEC is responsible for the collapse of Menzgold are, I think, a bit hypocritical," he added, saying that Menzgold Ghana Limited had collapsed following the directive because its business model had a defect.

"The question is whether a directive that ceases to sign new contracts should cause the collapse of your operations. And that in itself raises questions and concerns, "he said.