By: Franklin ASARE-DONKOH
The Chief Executive Officer (CEO) of the embattled defunct Menzgold Ghana Limited, Nana Appiah Mensah, known in the public space as NAM1, has pleaded not guilty to 39 counts leveled against him by the state for his involvement in the alleged defrauding of some Ghanaians to the tune of GHC 1.68 billion.
The founder and CEO of Menzgold Ghana Limited and Brew Marketing Consult appeared before the court on Tuesday, September 19, 2023, where the three, Nana Appiah Mensah, Menzgold Ghana Limited, and Brew Marketing Consult, have been charged with 39 counts.
The charges are 22 counts of defrauding by false pretence, seven counts each for money laundering, and fraudulent breach of trust.
The other counts include one count each for inducement to invest, operating a deposit-taking institute without a licence, and selling gold without a licence.
According to the facts of the case, NAM 1 through Menzgold Ghana Limited and Brew Marketing Company, induced Menzgold customers to part with GHc 1.68 billion.
Some of these monies, according to the charge sheet, were transferred into the personal accounts of NAM1, Zylophone Media, and Abigail Mensah.
He is also accused of using his media firm, Zylophone Media, to launder monies he knew were proceeds of crime.