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Ghana News

NAM 1 pleads not guilty to 39 charges of fraud, money laundering

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Nana Appiah Mensah, also known as NAM 1, was the former chief executive officer of the failed gold dealership company Menzgold. He entered a not-guilty plea to all 39 charges of criminal offenses.

The AG filed 39 counts of offenses against Nana Appiah Mensah, also known as NAM 1, including money laundering aid and abetment, defrauding under false pretenses, engaging in illicit deposit-taking while operating without the required license, and money laundering.

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This is a decrease from the original 61 accusations made against him.

In 2019, the Attorney General launched an inquiry against NAM 1, who was suspected of cheating hundreds of consumers out of millions of Ghana cedis through his gold dealership business.

In 2019, the Attorney General launched an inquiry against NAM 1, who was suspected of cheating hundreds of consumers out of millions of Ghana cedis through his gold dealership business.

Several adjournments of the case occurred until new charges were brought on August 30, 2023.

following Mr. Appiah Mensah announced plans to unlock locked up funds of Menzgold clients following payment of 650 for verification, new fees have been introduced.

Following a response from consumers and the general public, he changed his mind about requiring former clients to buy a verification access card in order to confirm transactions and authenticate claims.

 

 

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