Home / News / why NAM1 was arrested in Dubai

why NAM1 was arrested in Dubai


His arrest however, 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. According to Graphic Online, NAM1, 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. read more at https://www.360hitz.com/

https://twitter.com/mn_appiah/status/1058265130197311488/photo/1?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1058265130197311488&ref_url=https%3A%2F%2Fyen.com.gh%2F121224-why-nam1-arrested-dubai.html

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. Read more: 

Officials of Horizon Royal Diamonds later reverted to Menzgold’s Nana Appiah Mensah in 2018, to supply them the gold, upon which request he is said to have demanded an undertaking not to be linked to the transaction with Just Gold Company Limited, the company Horizon Royal alleges it paid the $51 million. That undertaking duly arrived, spelling out Menzgold’s disconnection with the deal said to have gone bad and its lack of liability. Following that undertaking, Menzgold proceeded to supply 750kg of gold to Horizon Royal Diamonds, at an agreed price of $28 million at the time of supply. Read more. https://www.360hitz.com/

About 360hitz

Rolling Ameyaw

Check Also

Meet Ghanaian Born Us Based afro Pop Artist – SlymBoy

Slym Boy Profile Maxwell Jakpa ( Born 6th March 1993 ) is a Ghanaian Born …

IWAN to headline first-ever Sallahfest in Sowutuom

IWAN has Proven to be one of Ghana’s Realest and Finest Musician with 7 Albums, …

Fella Makafui shared stunning photo on Instagram despite break up rumours

Medikal and Fella Makafui are yet to react to their break up rumors making rounds …

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this:
Web hosting by GrottoPress.