The Ghana Police Service says it has began the process to extradite the Chief Executive Officer of the troubled gold dealership company, Menzgold Ghana Limited, Nana Appiah Mensah, popularly known as NAM1 to Ghana.
A statement issued on Monday and signed by the Director General of the Police Public Affairs, Assistant Commissioner of Police (ASP) David Eklu confirmed the arrest of NAM 1 by Emirati officials in Dubai in relation to a gold trading deal gone bad within the Emirati jurisdiction.
The statement said he was arrested Monday, December 7, 2018.
It added that Ghanaian officials in Dubai have visited NAM 1 who is currently in custody of the Dubai Police and that the Ghana Police Service has since engaged the Dubai authorities on the next steps to be taken.
NAM 1’s arrest follows an alleged misrepresentation to security authorities in Dubai by a Dubai based company that he could be connected to an alleged botched gold business with a Ghanaian company, one of whose officials was known to him, close associates briefed on the matter have averred.
Graphic Online’s sources close to the matter claim he had landed in the Persian Gulf business hub in the late last year in the hope of retrieving some $39 million owed Menzgold by a Dubai-based company, Horizon Royal Diamonds DMCC, for the supply of gold.
The sources indicate that in 2016, an unnamed official of the Economic and Organised Crimes Office (EOCO) had recommended Menzgold to officials of Horizon Royal Diamonds for the supply of huge quantities of gold. That recommendation came because, according to the sources, the Dubai company had been duped by some Ghanaians previously.
Horizon Royal Diamonds and Menzgold duly established contact, however, before the deal could be struck, persons privy to the discussions presented themselves to Horizon Royal Diamonds with the promise of a better deal, to which officials of the Dubai-based company fell for.
It turned out that Horizon Royal Diamonds alleged later that it parted with no less than $51 million for which no gold whatsoever was supplied.