Ghanatodayonline.com News, Politics, Health, Education & More
Former CEO of the now-defunct Menzgold Ghana Limited, Nana Appiah Mensah, has pleaded not guilty to 39 counts brought against him in connection with an alleged GHC1.68 billion fraud scheme.
39 counts have been brought against the well-known NAM1, Menzgold Ghana Limited, and Brew Marketing Consult together.
These accusations include seven counts each for money laundering and fraudulent breach of trust, along with 22 counts of deceiving by false pretense.
One count each for encouraging investment, running an unauthorized deposit-taking institution, and selling gold without a valid license are included in the additional counts.
According to the specifics of the case, Nana Appiah Mensah is accused of convincing Menzgold clients to spend GHS1.68 billion through Menzgold Ghana Limited and Brew Marketing Consult. According to the charge sheet, some of these funds were moved into the personal accounts of NAM1 (Nana Appiah Mensah), Zylophone Media, and a person by the name of Abigail Mensah.
Additionally, Nana Appiah Mensah is accused of using his media company, Zylophone Media, as a front for money-laundering schemes and intentionally handling money that was the result of illegal activity.
NAM1 was given a GH500 million bail with four sureties, none of whom could be justified, by the court.
As part of the bail requirements, he has also been told to deposit his passport to the court registry.
Source: Ghanatodayonline.com
