Dubai court insists Royal Horizon must pay $39m to Menzgold CEO NAM1

The Dubai High Court has upheld its initial ruling of the case involving Menzgold CEO, Nana Appiah Mensah and his Arabian debtors, Royal Horizon, the court has again ordered the United Arab Emirates-based company to pay up $39 million owed the Ghanaian.

The court also ordered Royal Horizon to pay NAM1 compensation for the period he has been imprisoned in Dubai.

Royal Horizon, feeling hard done by when the court ruled in April in favour of NAM and Menzgold, filed an appeal to overturn the ruling but the court says the appeal lacked merit.

Background
A Dubai-based businessman reported NAM1 for fraud in May 2018. Unaware that he was on the Dubai police’s wanted list, NAM1 went to the Emirates with the hope of receiving a huge amount of money due him as a result of his earlier transactions with the Emirati, only to be arrested when he presented his passport to undergo immigration formalities.

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