NAM1 to Seek $30 Million Compensation

NAM1 $30 Million Compensation

In a bold move, Nana Appiah Mensah, popularly known as NAM1, has declared plans for a 2,000-man protest to demand $30 million in compensation for his arrest and detention by the government of the United Arab Emirates (UAE). The Chief Executive Officer of the now-defunct Menzgold, a gold dealership firm, took to social media to announce that the protest would be staged at UAE embassies worldwide, including Ghana.

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NAM1’s announcement on Monday, November 20, 2023, revealed that the protest aims not only to secure $30 million in compensation but also to demand the payment of $43.8 million in arrears owed to him by Horizon Royal Diamond DMCC, a Dubai-based firm.

“Brace up friends, for a 2,000-man protest at the UAE embassy in Ghana and elsewhere overseas SOON, to claim a USD$43.8 million dollars (750kg of Gold) owed me and another USD$30 million dollars as compensation, for my unjustifiable detention by the Dubai Police in 2018/2019,” read NAM1’s social media post.

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The genesis of NAM1’s legal troubles dates back to January 14, 2018, when Dubai authorities arrested him in connection with a problematic gold deal. This arrest followed a warrant issued by a Ghanaian court after Menzgold failed to reimburse its clients. Assistant Commissioner of Police David Eklu, now a Deputy Commissioner of Police (DCOP), explained at the time that NAM1’s arrest aimed to facilitate investigations into suspicions of his involvement in a gold trading deal gone awry within the Emirati jurisdiction.

In addition to his legal battles in the UAE, NAM1 is currently facing trial in Ghana on charges related to fraud, stemming from the collapse of Menzgold, which left numerous investors without their investments.

The announcement of the impending protest underscores NAM1’s determination to seek redress for what he perceives as unjust treatment, marking a new chapter in the ongoing saga surrounding the controversial figure and his embattled gold dealership company. As the situation unfolds, it raises questions about the intersection of business, legal intricacies, and diplomatic relations on the international stage.

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