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| Nana Appiah Mensah, Former CEO of Menzgold |
Nana Appiah Mensah, also known as NAM 1, the former CEO of Menzgold, a gold dealership firm that is no longer operational, has entered a plea of not guilty to all 39 charges brought against him.
The charges leveled by the Attorney General include offenses such as money laundering abetment, defrauding by false pretenses, engaging in deposit-taking without the necessary license, unlawful deposit-taking, and money laundering, among others. It's worth mentioning that these charges were reduced from the initial 61 counts that were initially filed against him.
The Attorney General's investigation into NAM 1's activities began in 2019 following allegations of defrauding numerous customers out of millions of Ghana cedis through his gold dealership firm, Menzgold.
The case has seen several adjournments, and on August 30, 2023, new charges were filed against NAM 1. These charges were filed subsequent to his announcement of plans to unfreeze the funds held by Menzgold customers. Initially, customers were required to pay ¢650 for verification, but this decision faced strong opposition from both customers and the general public. As a result, NAM 1 reversed course and eliminated the requirement for customers to purchase a verification access card for validating their claims and transactions.
It is important to remember that the legal outcome of this case will be determined through the proper legal process. The final judgment will be based on the evidence presented before the court.
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