Nana Appiah Mensah, aka NAM1
The trial of the embattled Chief Executive Officer (CEO) of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1, has commenced at an Accra Circuit Court.
The businessman together with his wife Rose Tetteh and his sister Benedicta Appiah, both of whom are at large, are facing a total of 13 counts of defrauding by false pretences, money laundering, abetment and carrying on deposit-taking business without licence.
Charges & Bail
NAM1, his wife and sister are facing six counts of defrauding by false pretences, abetment, money laundering and carrying on deposit-taking business without licence.
His companies – Menzgold Ghana Limited and Brew Marketing Consult Limited – have also been charged with seven counts of defrauding by false pretences, and carrying on deposit-taking business without licence.
Plea & Bail
NAM1 pleaded not guilty to all the charges and the court, presided over by Jane Harriet Akweley Quaye, granted him bail to the tune of GH¢1 billion (about $185 million) with five sureties, three of which are to be justified.
Additionally, he was ordered by the court to report to the police every Wednesday.
The court ordered that the bench warrant, which was issued last year for the arrests of NAM1’s wife and sister, should hold.
Customers Drama
Yesterday, some people claiming to be customers of Menzgold besieged the premises of the court demanding that NAM1 be freed so that he could release their locked-up investments to them.
Some entered the court precinct as early as 6am even before the gates were opened.
Majority of them carried placards with inscriptions like ‘Free NAM1’, ‘Suspend criminal charges’, ‘Order NAM1 to pay his customers’, ‘No money for school fees and medical bills’, among others.
The heavy police presence ensured that nobody broke the law.
Bail Application
Kwame Boafo Akuffo, representing NAM1, pleaded with the court to grant the accused bail while the trial continues. He told the court that NAM1 had been in custody for the past nine months since he was arrested in Dubai.
According to him, the prosecution had nine months to carry out its investigations and there was no compelling reason for NAM1 to be kept in custody to assist the police in investigations.
He said that as it stands NAM1 does not even know the complainants, arguing that it is not enough to just say that one Francis Agodzie and 16,000 others are the complainants.
He also told the court that NAM1 did not run away from Ghana but rather went to retrieve his $39 million in Dubai and he informed the state when he was returning after he was acquitted and discharged.
Flight Risk
He added that NAM1 was not extradited to Ghana and he surrendered his passport to the police when he returned to the country.
He concluded that all NAM1’s assets have been seized, and prayed the court to consider the terms of the bail.
The prosecution led by ASP Sylvester Asare said he was not opposed to the bail application but prayed the court to take into consideration the nature of the case and the quantum of money involved.
Facts
Per the facts of the case as cited by DAILY GUIDE, the Criminal Investigations Department (CID) in October 2018 received a petition from 16,000 complainants that Menzgold through NAM1 and the other accused persons urging them to deposit monies which would accrue a monthly interest of 10 per cent.
According to the facts, the complainants deposited various sums of monies totaling GH¢1,680,920,000.
It said Nana Appiah, Benedicta Appiah and Rose Tetteh had absconded and their offices and residents were later locked up.
It said a warrant of arrest was issued for the arrest of the accused persons until Nana Appiah returned to Ghana last Thursday where he was arrested at the Kotoka International Airport.
Hearing continues on August 12, 2019.
BY Gibril Abdul Razak