The Ghana Police Service has announced that it has received an amount of GH¢2.5 million from the embattled business mogul, Nana Appiah Mensah, popularly known as NAM1, on Friday, October 20, 2023.

In an X (formally Twitter) post, the police indicated that the money received, upon the advice from the Attorney General, have been deposited at the central bank, the Bank of Ghana in the Police Exhibit account for the attention of the Court.

The former Chief Executive Officer (CEO) for defunct MenzGold, Nana Appiah Mensah (NAM1), has been in the grip of the Attorney General (A-G), primarily associated with his role in the Menzgold saga, which affected numerous investors.

NAM 1 was recently charged by the Office of the (A-G) after three years and more than 35 adjournments of his trial.

The charges against the embattled businessman include 25 counts of “Defrauding by false pretence contrary to sections 131(1) of the Criminal Offences Act, 1960 (Act 29); and seven counts of “Fraudulent breach of trust contrary to section 128 of the Criminal Offences Act, 1960 (Act 29)”.

The other charges are seven counts of “Money Laundering contrary to section 1(2)(a)(i) of the Anti-Money Laundering Act, 2020 (Act 1044).”

The deposit of GH₵2.5 million was made at the Bank of Ghana, signifying a step forward in NAM 1's legal journey in the case brought against him by the state.

Background

Between November 2016 and March 2019, many customers of MenzGold petitioned the police complaining that they had invested huge sums of money with the accused persons but were unable to realise their investments after persistent efforts.

NAM 1 was initially charged with 14 counts of abetment of crime, defrauding by false pretences, carrying on a deposit-taking business without a licence, sale of minerals without a licence, unlawful deposit-taking, and money laundering.

The charges were later amended from 61 with his plea yet to be taken on them.

It is alleged that the accused had taken various sums of money, totaling GH¢1.6 billion from customers.

The state had previously on June 24, 2020, filed new charges against the CEO of Menzgold, also known as NAM 1 at the Accra Circuit Court.

DSP Sylvester Asare then told the Court that his directives were that he should hold on to the new charges and the plea-taking of the accused.

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WN/AW

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