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Menzgold Lawyers Write To Gov’t   
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Lawyers of embattled gold collectibles firm, Menzgold Ghana Limited, have reportedly sent a communication to the Government of Ghana regarding the recovery of the company’s funds from Dubai-based gold firm, Horizon Royal Diamonds.

Menzgold Ghana Limited’s American, English and Ghanaian lawyers have also written to the Ghanaian Government regarding what they consider as an “unjustifiable Interpol arrest and continued detention of the Chief Executive Officer of our company (Nana Appian Mensah aka (NAM1) via the Interpol Red Alert Order by the Ghanaian Government.”

In a statement dated June 3, 2019, and signed by its Head of Communication, Menzgold Ghana Limited indicated that “all customers and the general public should be advised that our Emirati, English, American and Ghanaian lawyers have forwarded a comprehensive communication to the Government of Ghana regarding the recovery of company funds from a Dubai Gold Company called Horizon Royal Diamonds.”

According to the statement, “among other pertinent factual issues raised with supporting documents, we urged the Government to respectfully revoke the Interpol Red Notice Order or agree to a bail bond for the immediate release of our Chief Executive Officer of Menzgold to: continue pursue the 750kg of gold, now worth $39 million from Horizon Royal Diamonds legally without this justice obstruction and funds from other debtors worldwide.”

The communication is for the Ghanaian Government to also by way of revocation of the Red Alert Order allow “for the CEO to freely communicate and meet with our global business associates and partners, who have expressed preparedness following our favorable judgment in the Dubai court on 9th April, 2019, to assist financially and for us to adequately settle our cherished customers/company debt liabilities as soon as possible, as we seek to resolve and give immediate closure to these disturbing matters of the past few months and in order to go ahead with our business as Ghana’s Gold Hub.”

Menzgold woes started on September 7, 2018 after the Securities and Exchange Commission (SEC) directed it to suspend its gold trading operations.

The directive, according to SEC, was based on the ‘fact’ that Menzgold had been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns to clients without a valid licence from the Commission.

The move, SEC explained, was in contravention of “Section 109 of Act 929 with consequences under Section 2016 (I) of the same Act.”

The company was, however, allowed to continue its “other businesses of assaying, purchasing gold from small-scale miners and export of gold.”

The directive caused panic among Menzgold Ghana Limited’s numerous clients, who consequently besieged the offices to demand their investments.

NAM1’s Arrest

NAM1 had gone to Dubai in December 2018 ostensibly to retrieve money owed Menzgold by Horizon Royal Diamonds but was arrested at the airport in the Emirates in connection with an alleged gold scam.


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