menzgold

One of the news people are waiting for is the arrest of Nam1, the CEO of Menzgold. Now the wish of many Ghanaians is about come to pass.

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The latest news in town is all about Nana Appiah Mensah ( Nam1 ) who is the Chief Executive Officer of the most talk about gold dealership company, Menzgold.

The information reaching us suggests that Nam1 has been ordered by the Adenta Circuit Court to arrest Nam1 for failing to appear before the court to answer charges of defrauding some people.

The court’s recent sitting has been monitored by many Ghanaians especially the Menzgold customers who are still waiting to get their investment back.

The court issued the bench warrant for Nana Appiah Mensah’s arrest, alongside two other persons. The court made this order on Tuesday, November 2, and made it clear that the three accused persons should appear in court today 4th of November to answer charges leveled against them, but none of them showed up.

ghana court

The police applied for the bench warrant to arrest the businessman and the two others because they had reportedly refused to cooperate with a police investigation into charges filed against them – declined invitation extended to them.

The counsel for the accused persons, Yaw Dankwah, told journalists that his clients were unable to be in court today because they were outside of Accra.

He expressed surprise at the way the police were doing things, pointing out that the Nana Appiah Mensah and the two other accused persons have never been arrested, nor have they given any caution statements to the police. He was therefore finding it difficult to rationalize why the police would go to court with charges against them.

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His position is that the police should have served the trio with criminal summons, which they have not. Mr. Yaw Dankwah said they were therefore caught off guard when the charges were read for the first time in court, two days back.

It was this element of surprise sprung on the clients that made him request that the court adjourn the hearing of the case for two weeks, but the court refused and ordered that they should make an appearance today, November 4.

He said his clients could unfortunately not make it to court as directed because they were outside of the capital city. It may be recalled that Nana Appiah Mensah was previously dragged to court, accused of swindling 16,000 Menzgold customers of Ghs1.68 billion.

nana Appiah Mensah

He faced 13 counts including defrauding, money laundering, abetment, and carrying out deposit-taking business without a license.

It has been two years since and it is likely that not every customer has been paid back the money they deposited with the business.

His company, which was engaged in gold trading with members of the general public but the company has been told to pause doing that by the Securities and Exchange Commission (SEC), the regulatory body.

Its business operations involving assaying, buying gold from small-scale gold miners, and export of the mineral was not stopped – could continue that line of business operation.

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