NAM1’S ‘Temporary Freedom’ Continues -Court adjourned to April 25 as Police awaits AG’s advice

24th March 2023

Embattled Menzgold CEO, Nana Appiah Mensah, took another walk of temporary freedom out of the courtroom, after almost four years of being arraigned.

Mr Mensah, popularly known as NAM 1, was hauled before the court sometime in July 2019 for allegedly defrauding customers of his gold dealership company, Menzgold.

He has been in and out of the courtroom with no end in sight. He is yet to be charged and the prosecution is yet to file processes for the trial to commence.

On Thursday, March 23, the prosecution again came with their usual rhetoric — asking for an adjournment.

ASP Emmanuel Haligah who held brief for the substantive prosecutor informed the court that the prosecution is still awaiting the Attorney General’s advice.

He, therefore, prayed for an adjournment, hoping by which time the AG would advice the team on the next line of action.

The case has been adjourned to April 25, 2023.

The previous facts of the case were that in October 2018, the police received a complaint from about 16,000 people that Menzgold had convinced them to invest GH¢1.68 billion in a gold purchase scheme that yielded 10% monthly interest.

But after some time, the complainants said their monies were locked up and that there was no trace of NAM1 and the other principal officers of Menzgold.

Investigations revealed that Menzgold and Brew Marketing Consult were incorporated as limited liability companies in 2013 and 2016.

Menzgold obtained a license from the Minerals Commission in August 2016 to purchase and export gold from small-scale miners and that to successfully engage in the business, NAM 1 founded Brew Marketing Consult to be a gold buying agent.

According to the prosecution, Menzgold was not licensed by the Minerals Commission to trade in gold. Notwithstanding the lack of such licence, Menzgold went public after its incorporation and invited the public to deposit money for a fixed period with interest on the pretext of gold purchasing.

The prosecutor said further investigations revealed that the three accused persons were the directors and principal officers of Menzgold and Brew Marketing Consult.

It was on these grounds that NAM1 together with his wife Rose Tetteh and his sister Benedicta Appiah (both at large) were hauled before the court.

The initial counts preferred were defrauding by false pretences, abetment to defraud by false pretences, carrying deposit business without licence, abetment of sale of minerals without licence, sale of minerals without licence, abetment of unlawful deposit-taking, unlawful deposit-taking and money laundering.

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