The Chief Executive Officer (CEO) of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1, has been charged with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without licence, contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).
NAM1 who returned to Accra on Thursday July 11, 2019 after months of detention in Dubai in the United Arab Emirates appeared before the Accra High Court today for allegedly defrauding 16,000 customers of more than GH¢1.68 billon between January 2017 and September 2018.
Two of his companies, Brew Marketing Consult and Menzgold Ghana Limited represented by him, have each been charged with defrauding by false pretence, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29), reports Graphic Online’s Mary Mensah.
The two companies have also been charged with carrying out a deposit-taking business without license, contrary to Section 6 (1) of Act 930. Also facing the law are his sister and his wife, Benedicta Appiah and Rose Tetteh, respectively, who have been slapped with two counts of abatement to defraud by false pretense and two counts of abatement to carry out banking business without licence, contrary to Section 6 (1) of Act 930.
The two women are, however, at large. A charge sheet sighted by Graphic Online’s Mary Mensah stated that between January 2017 and September 2018, Brew Marketing Consult and Menzgold defrauded one Francis Agodzie and 16,000 others of more than GH¢1.68 billon.
It further accused the two entities of carrying out an illegal deposit-taking business during the same period.
The charge sheet explained that Mensah, Appiah and Tetteh aided Brew Marketing Consult and Menzgold to defraud the customers of the GH¢1.68 billon.
With regard to the charge of abetment to carrying out deposit-taking business without licence, the three suspects are accused of aiding the two companies to illegally carry out a deposit-taking business.
In a related development, The Accra Circuit Court has remanded Nana Appiah Mensah aka NAM1, the embattled Chief Executive Officer of Menzgold, into police custody to reappear before the court on July 26, 2019.
The court, presided over by Jane Helen Akweley Quaye, remanded NAM 1 after the police prosecutors prayed for his remand to aid investigations. Basically, the police brought NAM 1 to court on Friday be remanded into police custody.
No charges were read in the courtroom against NAM1. NAM1 was brought to court around 6am in the company of a strong security presence led by senior police officers such as the Director- General of Public Affairs of the police, ACP David Eklu.