From Gold Mogul to Accused: NAM1’s Epic Legal Showdown with 39 charges

luckytvonline September 20, 2023

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The former CEO of Menzgold Ghana Limited, Nana Appiah Mensah, also known as NAM1, is currently involved in an exciting court dispute. When the State hit him with a whopping 39 new accusations, this gripping legal drama took an abrupt turn that served as a turning point in his ongoing legal conflict.

NAM1 has continuously defended his innocence in the face of these charges. He continues to deny any wrongdoing on his part despite mounting legal pressure. These allegations encompass a wide range of financial offenses, including selling gold and operating a deposit-taking firm without authorization.

The charges brought against NAM1 are nothing short of extraordinary in their complexity and reach. They include:

Selling Gold Contrary to Minerals and Mining Act (Act 703): NAM1 stands accused of violating section 99(1) of the Minerals and Mining Act, 2006.
Operating a Deposit-Taking Business Without a License: This charge alleges a breach of section (1) and 22 (1) of the Banking and Specialized Deposit-Taking Institutions Act, 2016 (Act 930).
Inducement to Invest Contrary to the Companies Act: NAM1 faces allegations under section 344 of the Companies Act, 2019 (Act 992).
Defrauding by False Pretense: An astonishing 22 counts under section 131(1) of the Criminal Offences Act, 1960 (Act 29) have been lodged against him.
Fraudulent Breach of Trust: He faces seven counts under section 128 of the Criminal Offences Act, 1960 (Act 29).
Money Laundering: Seven counts of money laundering charges have been brought against him under section 1(2)(a)(i) of the Anti-Money Laundering Act, 2020 (Act 1044).

In the midst of this legal battle, NAM1’s defense has taken the initiative to petition for bail on his behalf. The court will review this motion for bail after hearing all of the relevant facts in the case.

An intriguing aspect was added to this legal drama when NAM1 requested that Menzgold customers pay a payment of GH 650 for verification reasons in exchange for a faster release of their locked-up monies. Customers and the broader public, however, were adamantly against this decision.

NAM1 unexpectedly changed its stance and ceased requiring former customers to purchase a verification access card. This led to further speculations and inquiries regarding the case as a result of this action.

The mystery behind the case keeps growing as NAM1 navigates this intricate web of accusations and court cases. The seriousness of the accusations and the intense public interest guarantee that this judicial dispute will continue to draw attention. Stay in as we track the ups and downs of the ongoing court case involving NAM1, a drama that has captivated Ghana’s and the world’s attention.