Chief Executive Officer (CEO) of Menzgold Ghana Limited, Nana Appiah Mensah (NAM1) has revealed that he was framed-up by a Dubai-based gold dealership company,Horizon Royal Diamond which got him arrested in the United Arab Emirates (UAE).

Speaking to the press on Monday, 19 August 2019, NAM1 said: “I embarked on the company’s asset or debt recovery overseas.

“In the course of my pursuit upon my arrival in Dubai on the 7th December 2018 I was framed-up by one of the companies, Horizon Royal Diamond, which owes our company 750kg of gold valued at USD39 million.

“Believing that Menzgold is doomed for closure due to the unfavourable media reportage and customers’ protest in Ghana hence tabled the bogus claim that they have been defrauded by another Ghanaian company – Just Gold Company Limited with frivolous claims that Just Gold Company Limited is having associations with our company which is very false.”

NAM1 on 9th April 2019 won the case of fraud levelled against him in Dubai.

The court which pronounced judgment also ordered the company, with which he had issues to pay him all outstanding debts.

NAM 1 had been in Dubai cell since November 2018 over a gold deal gone bad.

A Dubai-based businessman reported Mr Mensah for fraud in May 2018. Unaware that he was on the Dubai police’s wanted list, Mr Mensah went to the Emirates with the hope of receiving a huge amount of money due him as a result of his earlier transactions with the Emirati, only to be arrested when he presented his passport to undergo immigration formalities.

Several customers of his defunct gold firm have on several occasions demonstrated in Accra, Takoradi and Tarkwa calling on government to intervene and help them retrieve their locked up cash.