High Court rules that NAM 1 has more cases of operation to answer

The High Court has ruled that Nana Appiah Mensah has a case to answer when it comes to the charges filed against him by the state.

At the hearing of the case on July 11, the judge ruled among others that, “the court finds that it appears, at this stage of the prosecution, that Brew Marketing Consult (and Nana Appiah Mensah) is unknown as an entity authorized to sell gold to the general public and therefore, must answer to the charge of ‘Selling gold contrary to section 99(1) of the Minerals and Mining Act.’

Operating a deposit taking business without a licence contrary to sections 6(1) and 22(1) of the Banks and Specialized Deposit-Taking Institutions Act.

Court finds that the regulator on several occasions wrote to NAM1 to caution him on same. Prosecution has led sufficient evidence to this and this NAM1 must answer.” Justice Ernest Owusu Dapaah said in respect of the application for submission of no case filed by lawyers of defunct Menzgold CEO, Nana Appiah Mensah, also known as NAM1.

Nana Appiah Mensah, also known as NAM1 together with his companies – Menzgold Ghana Limited and Brew Marketing Consult Ghana Limited have been charged with 39 counts of offences.

The charges include selling gold without a license, operating a deposit-taking business, inducement to invest, defrauding by false pretence, fraudulent breach of trust and money laundering.