Police confirms arrest of Menzgold boss in Dubai

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Ghana Police Service has confirmed media reports that the CEO for gold trading firm Menzgold, Nana Appiah Mensah, has been arrested in Dubai.

According to a statement signed by the Assistant commissioner of Police Director General and public affairs, David Eklu, the CEO for the embattled gold trading firm Menzgold has been in the custody of Dubai police since December 7th 2018.

According to the statement, the Police Service has commenced engagements with Dubai Police and that due process will be followed.

The Securities and Exchange Commission (SEC) in 2018 asked Menzgold to stop gold trading operations with the public.

According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectables from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.

An Accra Circuit Court yesterday, Wednesday 9th January, 2019 issued a warrant for the arrest of embattled businessman Nana Appiah Mensah after his investment company, Menzgold, failed to refund client’s monies.

NAM-1, as he is popularly called, is wanted for defrauding by false pretense. He is also wanted for money laundering.

Ghana | Atinkaonline.com