Breaking: Menzgold CEO NAM 1 Remanded, Faces 4 Charges

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NAM 1 remanded

A Circuit Court in Accra has remanded the Chief Executive Officer of gold dealership firm, Menzgold, Nana Appiah Mensah popularly known as NAM 1.

The decision to remand him was after the court shot down attempts by his lawyers to secure bail for him.

The embattled CEO who is standing trial on four charges is set to reappear in court on July 26, 2019.

He faces charges of defrauding  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).

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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).

The CEO has been on the wanted list of the police service after some customers who invested in his gold dealership company, Menzgold filed a case of fraud against him.

Nana Appiah Mensah spent the last six months in incarceration in Dubai as a result of a criminal case that was brought against him by a private company based in Dubai.

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He was however acquitted and discharged by a court in Dubai but an INTERPOL red alert notice that was placed on him by the government of Ghana made it impossible for his release.

But after months of wait, he finally arrived in Ghana yesterday.

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