In December last year, the trial of Nana Appiah Mensah, CEO of the now-bankrupt Menzgold, commenced. The Attorney General brought forth 39 charges against the esteemed business mogul and entertainment tycoon, commonly referred to as NAM1, to which he entered a plea of not guilty.
The allegations, encompassing various offenses, included unauthorized trading of gold, solicitation for investment, defrauding by pretences, and engagement in money laundering activities involving an amount exceeding GH₵340 million.
On July 11, the court, presided over by Justice Ernest Owusu-Dapaah, deliberated on whether Nana Appiah Mensah, the CEO of Brew Marketing Consult and the bankrupt gold dealership firm Menzgold, would be acquitted or compelled to present his defense. The court found that the accused had distributed gold to the public without the necessary authorization from the Minerals Commission.
Moreover, it was determined that he must address the allegations of enticing the general public to invest funds exceeding GH₵340 million. Some individuals who were clients of Menzgold and affected by Nana Appiah Mensah’s actions have already demanded his prompt prosecution.
Earlier, YEN.com.gh previously reported that a witness in the trial of Menzgold CEO Nana Appiah Mensah alleges that the businessman physically assaulted her. The witness recounted that the incident took place when she, along with other disgruntled customers, approached the CEO to demand the return of their investments.
NAM1, along with his wife and sibling, stand accused of using a scheme through Menzgold to defraud over 16,000 individuals of an estimated GH¢1.68 billion.
