Nana Appiah Mensah stood trial today, July 12 has been asked to reappear on July 26, 2019 for the final hearing of his case after being whisked away moments after he touched down yesterday following several months in detention in Dubai.
According to a Daily Graphic report, NAM1 has been charged with defrauding 16,000 people of GH¢1.68billion by state prosecutors. State prosecutors are alleging that the CEO of controversial gold dealership firm, Menzgold defrauded about 16,000 people of GH¢1.68 billion on the name of investing their monies.
It is the case of the state that the beleaguered Menzgold boss contravened sections of the Banks and Specialised Deposits Taking Act, 930 and the Criminal Offences Act while operating Menzgold and its sister company, Brew Marketing.
A charge sheet sighted by Graphic Online’s Mary Mensah in charge of the crime beat 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.
Meanwhile, the Accra Circuit Court has remanded Nana Appiah Mensah aka NAM1, into police custody to reappear before the court on July 26, 2019.
He has also has been charged with two counts of abetment to defraud by false pretense 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).
Information from the Graphiconline was used in this report.