NAM1's lawyers head to Dubai to chase $39m

Chief executive of the defunct gold-dealership firm MenzGold, Nana Appiah Mensah, is set to initiate fresh action to force a United Arab Emirates-based firm to pay him some 39 million dollars owed him from a business transaction.

A Dubai High Court in April last year ordered Royal Horison to pay the amount to the man popularly referred to as NAM1, a decision the Arabian company contested on appeal and lost in July 2019.

Information gathered by 3news.com suggests the Emirati firm has since failed to pay Nana Appiah Mensah who is currently facing trial in Ghana for allegedly defrauding hundreds of Ghanaians millions of cedis.

Lawyers for NAM1 have gone to Dubai to file new court processes to force the Royal Horison to pay the money, Public Regulations officer of MenzGold, Nii Armah Amarteifio, told Onua FM Wednesday.

“We are expecting the Dubai money to come. We shipped 750kg of Gold to them amounting to $39m. We have to go back to file the necessary papers to retrieve the money and the lawyers are working on that” he told host of Yen Sempa, Bright Asempa.

Nii Amarteifio explained that Royal Horison has been giving an excuse that MenzGold is a scam, for which reason it has been reluctant in releasing the money to Nana Appiah Mensah.

“The man [Royal Horison official] says the customers in Ghana are saying it’s a scam and the man is taking advantage over that. We have also written to the AG office to help us retrieve the money, even though we have not gotten any reply yet,” he explained.



Payments

Nii Amarteifio said MenzGold has paid 2,000 customers “and those people that we have paid, we have given them full payments”.

He said the NAM1 is working to raise funds in Ghana to settle the customers, noting as and when the funds are available, customers would be notified and payments to them made.

“We wait for cash at hand. My boss is the one working to raise money. We are now raising money internally to pay them” he claimed.

Fred Forson who is the Spokesperson for the Coalition of Aggrieved Menzgold Customers reacting to the payment claimed information he has showed that none of their members has received payment.