The court will decide on July 10 whether Nana Appiah Mensah, aka NAM1, will walk free or be forced to open his defense in the ongoing trial. NAM1, CEO of defunct Menzgold Ghana Limited, faces charges of defrauding customers, selling gold without a license, operating a deposit-taking business without a license, and money laundering.
On Tuesday, prosecution and defense lawyers presented arguments on whether the accused is innocent or has a case to answer. The defense team, led by Kwame Akuffo, argued that the prosecution’s evidence is insufficient and that NAM1 paid taxes during his operation. They also contended that the charges of money laundering and defrauding by false pretence are mutually exclusive.
The prosecution countered that Brew Marketing Consult, another business of NAM1’s, is unknown to the Minerals Commission, and that Menzgold operated as a deposit-taking business without a license. They also argued that NAM1 engaged in false advertisements that induced people to invest.
The prosecution concluded that even one witness is enough to convict NAM1, and that the defense team’s evidence actually implicates their client. NAM1 has pleaded not guilty to all charges and is currently on a GH₵500 million bail with four sureties.
