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Nam 1 returns, but arrested by CID

botchway July 12, 2019


By Maxwell Obiri-Yeboah

The embattled businessman, Nana Appiah Mensah, popularly known as NAM1, has arrived in the country after winning a case filed against him at a court in the United Arab Emirates, Dubai.

He arrived at the Kotoka International Airport yesterday, July 11, 2019, around 11am, and is currently being held at the Criminal Investigation Department (CID) of the Police Service at the Headquarters in Accra.

Within the first trimester of this year, Horizon Royal Diamonds DMCC, a Dubai-based business firm he had business dealings with, sued him for $51 million in Dubai, when he reportedly went to retrieve $28 million owed his defunct Menzgold Company for gold supply.

This was revealed after a combined force of security experts from the Ghana Police Service, Economic and Organised Crime Office (EOCO), and National Security collaborated with the Attorney General and chased him to the UAE last year, in December7, 2018, after his assets were confiscated amid a mirage of mixed reactions surrounding his name and businesses.

NAM1, Chief Executive Officer (CEO) of the gold dealership firm, Menzgold Ghana, was able to pay a few of his clients who had deposited huge sums of money in his firm for purchasing gold, but unable to pay thousands of Ghanaians when his modus operandi was alleged to be a ponzi-scheme.

He is also the owner of the music label Zylofon Music and Zylofon media, which comprises Zylofon TV and Zylofon FM, all based in Accra.

Since the collapse of his empire, it was alledged that a huge number of about 1.8 million customers had deposited millions of cedis and had their funds locked up.

As a result, they (the customers) have been embarking on countless demonstrations at his backyard to catch public attention, and also get the government act on the matter.

Finally, he is been released from his ‘hideout’ in Dubai due to an Interpol red alert that was sent to the international body after months of facing a legal brawl in Dubai.

Our checks reveal that he will be facing the rigorous action of the law once he is back home for defrauding by false pretence.

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