This was revealed by the state’s prosecutor of Ghana following the arrival of the CEO on Thursday, July 11, 2019, according to documents sighted by Graphic Online.
According to the prosecutor, the CEO of controversial gold dealership firm, Menzgold defrauded about 16,000 people of GH¢1.68 billion with notice of investing their monies.
It is the case of the state that, the embattled CEO contravened sections of the Banks and Specialised Deposits Taking Act, 930 and the Criminal Offences Act while operating Menzgold and its sister company, Brew Marketing.
A charge sheet from the prosecutor stated that between January 2017 and September 2018, Brew Marketing Consult and Menzgold defrauded one Francis Agodzie and 16,000 others of more than GH¢1.68 billion.
The two entities were also accused of carrying out an illegal deposit-taking business during the same period.
The charge sheet explained that Mensah, Appiah and one Tetteh aided Brew Marketing Consult and Menzgold to defraud the customers of the GH¢1.68 billion.
“With regard to the charge of abetment to carrying out deposit-taking business without licence, the three suspects are accused of aiding the two companies to illegally carry out a deposit-taking business,” the charge sheet noted.
NAM1’s arrival in Ghana
The CEO arrived in Ghana from Dubai on Thursday, July 11, 2019.
After he arrived at the Kotoka International Airport via Emirates Airline flight EK787, he was quickly whisked away by security operatives to the Criminal Investigations Department of the Ghana Police Service for interrogation.
Nana Appiah Mensah, otherwise called NAM1, had been in detention in Dubai since December 7, 2018, when he was arrested in that country on charges defrauding a business partner there.
After months of legal tussle, he was released as prosecutors could not prove their case of fraud against him.
A few weeks ago, it was reported that a court in Dubai had ordered that he be paid a sum of $39 million as payment for gold Menzgold supplied to another company.
That apparently paved the way for Mr Appiah Mensah, popularly called NAM1, to come back home where he is expected to stand trial for defrauding by false pretences amongst others.
NAM1's wife, sister also face counts of fraud
Meanwhile, the state’s prosecutor is as well aiming at putting Nana Appiah Mensah’s wife and his sister, Benedicta Appiah and Rose Tetteh, respectively, behind bars for allegedly playing a role in defrauding the 16,000 people of about GH¢1.68bn.
The wife and the sister are facing four counts, including defrauding by false pretence alongside NAM1.
“Also facing the laws are his sister and his 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. The two women are, however, at large,” the state's prosecutor noted.