The Chief Executive Officer of embattled gold dealership company, Menzgold Ghana Limited, will make his third court appearance in Dubai on Thursday, February 14, where he is facing a misdemeanour charge over a 23 million -dollar-deal, gone bad.
Nana Appiah Mensah, alias NAM 1 is currently being held on remand at the Al Barsha Police cell. The criminal charge of misdemeanour in Dubai is equivalent to a Second Degree Felony in Ghana and if found guilty he could spend up to two years in prison.
A source familiar with the United Arab Emirates (UAE) justice system said he could also face civil charges from the complainant, who is seeking to retrieve 23 million dollars and his failure to pay that money could earn him an additional three-year jail term.
Back home, the Economic and Organised Crime Organisation (EOCO), has frozen the properties of Menzgold and its associated companies.
Menzgold is holding up the investments of thousands of customers, who have since September last year been unable to access both their interests and principal.
