No evidence Menzgold CEO won $39m Dubai judgment

No evidence Menzgold CEO won $39m Dubai judgment
Source: Ghana|myjoyonline.com|edwin.appiah@myjoyonline.com
Date: 20-08-2019 Time: 12:08:28:pm
Amanda Clinton represents some Menzgold clients who want their money back.

Chief Executive of defunct Menzgold’s claim he won $39m court judgment in Dubai crucial to paying off frenzied customers in Ghana has been doubted.

Legal counsel for some affected clients of the defunct gold dealership firm, Amanda Clinton told JoyNews’ mid-morning TV program, NewsDesk, there is no evidence backing this claim.

“Not even a case reference number of the judgment,” she said and challenged the beleaguered boss to publish evidence of the Dubai judgment celebrated by some clients in Ghana.

NAM1, as he is popularly called, was arrested in Dubai where he has said he went to retrieve money in a gold deal gone bad.

Media reports in July 2019 suggests, a superior court in United Arab Emirates had in June, ordered Nana Appiah Mensah’s former partner, Horizon Diamonds Royal, to refund more than $39m.

NAM1, a wanted man in Ghana, returned to face prosecution for defrauding by false pretence and money-laundering after operating a deposit-taking without a licence.

At his first press conference since his returned, the socialite broke his silence and asked the government to help him get back his unpaid monies in Dubai.

But reacting to this call, Amanda Clinton doubted NAM1’s claimed judgement. She said the Attorney-General is yet to respond to her request for confirmation of the judgment.

If such document exists then it is for government to pursue the matter because it is a public interest matter,” the legal counsel said.

“It is because there is no evidence that is why they are running around in circles pinning it on government,” she said and called Nana Appiah Mensah a “master marketer”.

Clinton also dismissed the Menzgold CEO’s plea to the government to unfreeze his personal and company accounts to allow him to pay and receive cash.

“I can tell you point-blank that there is very little in that bank account” she claimed the businessman may have taken out all his money.

She explained despite an order to shut down his business, it took at least six months for EOCO to freeze his account.

She explained Menzgold and government could create a sub-account to allow any inflows NAM1 expects which can then be used to pay customers.

She backed the freezing of the accounts and stressed it is important because Menzgold is facing 13 criminal charges including fraud.


She called his press conference an arena for “pure marketing” and observed that “at the end of the day, there was no payment plan”.