- High Court rules NAM1 must face trial.
- NAM1 faces 39 counts, including selling gold without a license and money laundering.
- Court finds NAM1 operated illegal deposit-taking business.
- Trial to continue on July 25.
The High Court has ruled that Nana Appiah Mensah, also known as NAM1, must face trial for the charges filed against him by the state. The court’s decision was delivered on July 11, and it sets the stage for the next phase of the trial.
NAM1, the CEO of defunct Menzgold, and his companies, Menzgold Ghana Limited and Brew Marketing Consult Ghana Limited, are facing 39 counts of various offences. These charges include selling gold without a license, operating a deposit-taking business without a license, inducement to invest, defrauding by false pretence, fraudulent breach of trust, and money laundering.
In his ruling, Justice Ernest Owusu Dapaah stated that the court finds that Brew Marketing Consult and Nana Appiah Mensah are unknown entities authorized to sell gold to the general public. Therefore, they must answer to the charge of selling gold contrary to section 99(1) of the Minerals and Mining Act.
The court also found that NAM1 operated a deposit-taking business without a license, contrary to sections 6(1) and 22(1) of the Banks and Specialized Deposit-Taking Institutions Act. The regulator had written to NAM1 on several occasions to caution him about this, and the prosecution has led sufficient evidence to support this charge.
The judge’s ruling was in response to an application for submission of no case filed by NAM1’s lawyers. The lawyers had argued that the prosecution had not presented sufficient evidence to warrant NAM1’s trial.
However, the court disagreed, finding that the prosecution had indeed presented enough evidence to require NAM1 to answer to the charges. NAM1’s trial is expected to continue, with the next hearing date set for July 25. The prosecution is expected to present more evidence and witnesses to build its case against NAM1.
The case against NAM1 has been ongoing for several years, with many customers of Menzgold eagerly following the proceedings. Menzgold was shut down in 2018 after the government declared it an illegal operation. The court’s ruling is seen as a significant development in the case, and many are eagerly awaiting the next stages of the trial.
NAM1 has consistently maintained his innocence, and his lawyers have vowed to continue fighting the charges. The trial is expected to be a long and complex one, with many legal and factual issues to be resolved.
