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NAM1 pleads not guilty to 39 charges of fraud and money laundering

  Tue, 19 Sep 2023
Headlines NAM1 pleads not guilty to 39 charges of fraud and money laundering
TUE, 19 SEP 2023 LISTEN

The CEO of defunct Menzgold Ghana Limited, Nana Appiah Mensah has pleaded not guilty to 39 counts brought against him for his involvement in the alleged defrauding of some Ghanaians to the tune of GHC 1.68 billion.

Nana Appiah Mensah who is director of Menzgold Ghana Limited and Brew Marketing Consult appeared before the court on Tuesday where the three, Nana Appiah Mensah, Menzgold Ghana Limited and Brew Marketing Consult have been charged with 39 counts.

The charges are 22 counts of defrauding by false pretence, seven counts each for money laundering and fraudulent breach of trust. The other counts include one count each for inducement to invest, operating a deposit-taking institute without a license and selling gold without a license.

According to the facts of the case, Nana Appiah Mensah through Menzgold Ghana Limited and Brew Marketing company induced Menzgold customers to part with GHc 1.68 billion.

Some of these monies according to the charge sheet were transferred into personal accounts of NAM1, Zylophone Media and one Abigail Mensah.

He is also accused of using his media firm, Zylophone Media to launder monies he knew were proceeds of crime.

-citinewsroom

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