Customers of Menzgold thronged the court as Nana Appiah Mensah, popularly known as NAM 1 appeared before an Accra Circuit court today.

Hundreds of the aggrieved customers were there

with flyers and placards with different inscriptions.

The customers were asking authorities to

free him so he can pay their monies.

When NAM1 arrived in court, customers

cheered, calling him a hero.

NAM1 is said to have defrauded 16,000 people of GH¢1.68billion in

the name of investing their monies.

The CEO, who returned to Accra on Thursday July 11, 2019 after

months of detention in Dubai in the United Arab Emirates, is said to have

operated his gold dealership company in contravention of sections of the Banks

and Specialised Deposits Taking Act, 930 and the Criminal Offences Act, while

operating Menzgold and its sister company, Brew Marketing.

NAM1 was charged with 4 counts of fraud and conducting banking

business without licence. He has also been charged with two counts of abetment

to defraud by false pretence and two counts of abetment to carry out banking

business without licence, contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).

Two of his companies — Brew Marketing Consult and Menzgold Ghana Limited — represented by him, have each been charged with defrauding by false pretence, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29). The two companies have also been charged with carrying out a deposit-taking business without a licence, contrary to Section 6 (1) of Act 930. Also facing the law are his sister and wife, Benedicta Appiah and Rose Tetteh, respectively, who have been slapped with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without a licence, contrary to Section 6 (1) of Act 930.

Source: theindependentghana