Menzgold CEO, NAM1 Faces New Suit In Dubai; He Was Not Given $39m

Menzgold CEO, Nana Appiah Mensah popularly known as NAM 1, is not free yet as several reports sighted earlier this month claimed. Just in, A Pakistani national has also sued Menzgold CEO, NAM1 in a Dubai court over a One Million Dollar ($1m) debt.

A source in Dubai revealed to ABCNewsGh that, NAM1 had signed an agreement with an unnamed Pakistani national to settle his indebtedness to him by installment, but the civil court is yet to approve the alleged agreement.

Menzgold CEO, NAM1
Menzgold CEO, NAM1

The latest court case means that, NAM1 maybe in Dubai in the custody of Interpol longer than expected.

Meanwhile, our source has debunked claims that, the appeals court in Dubai ordered Horizon Royal Diamond to pay NAM1 an amount of Thirty-Nine Million Dollars.

“I was in court that day, it is not true that NAM1 is to be given any Thirty-nine Million Dollars. The judge, Rasheed Mohammed Al-Sumairi , ruled that, the appellant (Horizon Diamond) had failed to produce enough evidence to support its claim that, NAM1 owes the company the said amount”,

the source said.

NAM1 did not make a counter claim against the company, so how could the court have awarded that cost to him”, he queried.

“I was in Court but neither Nam1 and his lawyers nor Danny Joude of Horizon Royal Diamond were not present”

the source added.
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