An Accra Circuit Court has once again been compelled to adjourn the case of Nana Appiah Mensah, the embattled Chief Executive Officer of Menzgold, popularly known as NAM 1, theghanareport.com reports.

Nana Appiah Mensah has been in and out of the court room since July 2019, following his arrest for allegedly defrauding thousands of people with his investment scheme; Menzgold.

Despite almost four years passing since his arrest and subsequent court appearances, NAM 1 is yet to be formally charged, and the state is still awaiting the Attorney General's advice on the matter.

The accused faces a total of 61 charges, including false pretences.

ASP Emmanuel Haligah, standing in for the substantive prosecutor, informed the court about the ongoing delay in receiving the Attorney General's advice.

The case, which was adjourned to September 20, 2023, has seen NAM 1's presence in court, displaying his "youthful exuberance."

According to the previous facts presented in court, around October 2018, approximately 16,000 individuals filed a complaint against Menzgold, alleging that they were convinced to invest GH¢1.68 billion in a gold purchase scheme that promised 10% monthly interest.

The prosecution revealed that these complainants stated their money was locked up, and they were unable to locate NAM 1 and other principal officers of Menzgold.

Further investigations indicated that Menzgold and Brew Marketing Consult were incorporated as limited liability companies in 2013 and 2016, respectively. Menzgold obtained a license from the Minerals Commission in August 2016 to purchase and export gold from small-scale miners, while Brew Marketing Consult was founded by NAM 1 as a gold buying agent.

However, it was discovered that Menzgold was not licensed by the Minerals Commission to trade in gold, yet it publicly invited deposits from the public for a fixed period with interest under the pretext of gold purchasing.

NAM 1, along with his wife Rose Tetteh and sister Benedicta Appiah, who are currently at large, were identified as directors and principal officers of Menzgold and Brew Marketing Consult.

YNA/WA