The CEO of Menzgold Ghana Limited, Nana Appiah Mensah, has pleaded with the government of Ghana to help him recover some $39 million owed his company by a Dubai-based firm.
NAM1 was incarcerated in Dubai for nine months while sojourning to recover the money to bring it back home to pay his numerous customers whose investments have been locked up with the firm since August last year.
Addressing the media on Monday, 19 August 2019, NAM1 said: “It was in this regard that I embarked on the pursuit of company assets/debt recovery overseas”.
“In the course of my pursuits, upon my arrival in Dubai on the 7th of December 2017, I was framed by one of the companies; Horizon Royal Diamond, which owes our company 750 kg of gold, valued at USD39,000,000. Believing that Menzgold is doomed for closure due to the unfavourable media reportage and customer protests in Ghana, [Horizon Royal Diamond] tabled a bogus claim that they have been defrauded by another Ghanaian company; Just Gold Company Limited, with frivolous claims of Just Gold Company Limited having associations with our company, which is very false”.
Mr Mensah said the subsequent action by the Economic and Organised Crime Office (EOCO) to freeze Menzgold’s and my personal assets “further hardened the resolve of some of our debtors who thought Menzgold was a thing of the past”.
“Following my graceful acquittal and discharge in the Dubai Superior Court, the need arose for me to return to Ghana immediately on the call of the Interpol red notice, to answer criminal charges on the same customers’ debt portfolio before the Ghanaian court, the very reason why I went to Dubai in the first place. A call that restrained me from laying claim to the funds I went to the UAE to recoup.
“All companies worldwide have liabilities in its books and, so, does Menzgold. Business, in summary, is all about owing and being owed. We, at Menzgold, are committed and do express our willingness to service our debt portfolios to our customers and business associates as soon as we can, with a given opportunity.
“We respectfully pray the Ghanaian authorities to cooperate with us to assist us make full recovery of the amount owed Menzgold by Horizon Royal Diamond in Dubai.
“As an act of good faith, we are willing to engage the Attorney General’s office on the best possible way for them to aid Menzgold by employing international law and diplomatic relations to ensure we achieve this objective”, NAM1 said.