An Accra High Court is set to determine whether Nana Appiah Mensah, also known as NAM 1, will be compelled to open his defense or walk free today, July 10.
NAM 1, along with his companies Menzgold Ghana Limited and Brew Marketing Consult Ghana Limited, faces 39 charges including selling gold without a license, operating a deposit-taking business, inducement to invest, defrauding by false pretence, fraudulent breach of trust, and money laundering.
During a court session on June 11, 2024, prosecution and defense lawyers presented their arguments.
Defense counsel Kwame Akuffo claimed that despite widespread complaints, only eight victims testified in court, suggesting the number of actual victims was exaggerated.
Akuffo argued that NAM 1 paid taxes during his operations and that the prosecution failed to prove he lacked a license to sell gold.
In contrast, the prosecution asserted that Brew Marketing Consult, one of NAM 1’s companies, was not authorized by the Minerals Commission of Ghana to deal in gold.
They argued that Menzgold was not licensed to operate as a deposit-taking business. The prosecution highlighted that NAM 1’s advertisements, which involved celebrities, induced many people to invest under false pretenses.
The prosecution also contended that the defense inadvertently provided evidence against NAM 1 by presenting defrauded customers. They emphasized that even a single witness could be sufficient for a conviction.
NAM 1, currently on a GH¢500 million bail, has pleaded not guilty to all charges.
The court’s decision today will determine whether he will have to open his defense or be acquitted.
