NAM 1 – Adomonline.com https://www.adomonline.com Your comprehensive news portal Mon, 19 May 2025 15:48:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 https://www.adomonline.com/wp-content/uploads/2019/03/cropped-Adomonline140-32x32.png NAM 1 – Adomonline.com https://www.adomonline.com 32 32 Court of Appeal dismisses NAM1’s bid to halt Menzgold trial https://www.adomonline.com/court-of-appeal-dismisses-nam1s-bid-to-halt-menzgold-trial/ Mon, 19 May 2025 15:48:31 +0000 https://www.adomonline.com/?p=2536212 The Chief Executive Officer of the defunct Menzgold Ghana Limited, Nana Appiah Mensah, also known as NAM1, suffered a significant legal blow on Monday, May 19, when the Court of Appeal dismissed his application for a stay of proceedings in his ongoing criminal trial.

NAM1, along with his two companies—Brew Marketing Consult and Menzgold Ghana Limited—is facing 39 charges, including selling gold without a license, operating an unlicensed deposit-taking business, inducement to invest, defrauding by false pretence, fraudulent breach of trust, and money laundering. The offences involve an amount exceeding GH₵340 million.

His lawyers filed the application for a stay of proceedings at the Court of Appeal after the Financial Court found that a prima facie case had been established against him and ordered him to open his defence.

NAM1 is also challenging the July 2024 High Court ruling that directed him to open his defence. His legal team argued that the trial should be put on hold until the Court of Appeal rules on their substantive appeal against that decision.

However, on Monday, state prosecutors urged the Court of Appeal to dismiss the application, describing it as an attempt to “overreach the powers of the court” and lacking any exceptional grounds to justify a stay of proceedings.

A three-member panel of the Court of Appeal, presided over by Justice Gbiel Suurbaareh, with Justices Afia Serwaa Asare-Botwe and Christopher Archer concurring, unanimously dismissed the application.

This decision clears the way for the Financial Court to continue with the trial, which is expected to resume on May 28.

Speaking to the media after the ruling, NAM1 hinted at pursuing further legal options.

It doesn’t end here. We still have the Supreme Court, so we will exercise all our rights enshrined under the Constitution. I’ll confer with my lawyers and take action based on their advice, he said.

Background

The prosecution alleges that between 2016 and 2018, NAM1 and his two companies took deposits from over 16,000 customers under the guise of investing in gold trading.

Investigations revealed that the funds collected were misappropriated and diverted to related companies and personal accounts, leading to widespread financial losses for customers and triggering a nationwide scandal.

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]]> Court of Appeal dismisses NAM1’s bid to halt Menzgold trial nonadult NAM 1 appeals for time to engage new lawyers https://www.adomonline.com/nam-1-appeals-for-time-to-engage-new-lawyers/ Thu, 19 Dec 2024 14:46:48 +0000 https://www.adomonline.com/?p=2485637 Embattled Chief Executive Officer of defunct gold dealership firm Menzgold, Nana Appiah Mensah, has appealed to the trial judge to grant him “reasonable time” to “scout and engage” new lawyers.

Nana Appiah Mensah, affectionately known as NAM1, said his plea was to afford him the opportunity in “My quest to affirm my innocence” before the court and the global community.

On July 11, 2024, the High Court in Accra presided over by Justice Ernest Owusu Dapaa ordered NAM1 and his two companies to open their defence to charges of some 37 counts after ruling on a submission of no case to answer.

Fast-forward, NAM1, who has been charged together with two of his companies- Menzgold Ghana Limited and Brew Marketing Consult, filed a motion for a stay of proceedings pending an appeal against the order of the High Court on July 11.

On December 5 the High Court dismissed that request for a stay of proceedings and ordered him to comply with the orders of the court on July 11 to open his defence.

When the matter was called on Tuesday, December 17 NAM1, who is also representing his two accused companies, appeared without his lawyers.

NAM1 has in the past been represented by lawyer Kwame Boafo Akuffo.

Asked by the court where his lawyers were, NAM1 pleaded with the court to afford him the opportunity to address the court in his lawyer’s absence.

“My lawyer and I have a difference. One that is so fundamental to the extent that it places a point of divergence for us,” NAM1 said in his opening remarks.

Stay of Proceedings

The Director of Public Prosecution, (DPP), Mrs Yvonne Attakora Obuobisa, while reacting to NAM1’s request reminded the court of what had happened so far in the trial and further drew the court’s attention to the accused person’s “deliberate” desire not to open their defence.

“Respectfully my lord, when I arrived in court, I was informed by Mr Watkins Adamah, a State Attorney, that he has just been shown an application for a stay of proceedings against the orders of this (High) Court filed at the Court of Appeal today (Tuesday, December 17) at 11:40 a.m,” the DPP pointed out to the court.

She added that Mr Watkins “Was just shown a copy without being given a hard copy and our (AG’s) office has not been served”.

It was the submission of the DPP that, the said application was signed by Kwame Boafo Akuffo (counsel) representing the accused persons and “for all intents and purposes, this can only mean that at the time this application (for Stay of Proceedings) was filed (at the Court of Appeal) it was done on the instructions of the accused persons (NAM1, Menzgold Ghana Limited and Brew Marketing Consult).”

“The said application in the court of appeals has no return date,” according to the DPP and in her view “It is therefore difficult to place merit on what the first accused (NAM1) has just informed this (High) Court.”

To buttress her point, the DPP said “This is more so when on July 11, 2024, this court gave a ruling on a submission of no case and called upon the accused persons to open their defence.”

She said, “They (accused persons) were further ordered by the court to file witness statements on or before October 16, 2024.”

It is the case of the DPP that on October 16, 2024, “The accused persons failed to file their witnesses statements and this court magnanimously adjourned this case to October 29, 2024.”

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]]> I am a believer, what God doesn’t permit doesn’t happen – NAM 1 https://www.adomonline.com/i-am-a-believer-what-god-doesnt-permit-doesnt-happen-nam-1/ Thu, 11 Jul 2024 20:42:42 +0000 https://www.adomonline.com/?p=2421087 Chief Executive Officer of Brew Marketing Consul, the defunct gold dealership firm Menzgold, Nana Appiah Mensah, also known as NAM1, says that over the last six to seven years of court proceedings, it is only by the grace of God that he has been able to endure the tough nature of the journey.

Speaking to JoyNews’ Richard Kwadwo Nyarko after the court dismissed his no-case application and ordered him to open his defence, he acknowledged that although the journey has been tough, his faith in God’s word and promises has kept him going.

When asked about the challenges encountered he said “It has been painfully challenging but of course what doesn’t break you will make you stronger, and I am a believer, you know whatever God doesn’t permit doesn’t happen so it is fine. It is very fine. I am not a person that complains.”

NAM1 noted that although he was pained that many of his customers still have their funds locked up, this was out of his hands, and until the criminal process was over, he could not disburse money.

“It breaks our heart that people have had to suffer these unintended consequences. It breaks our hearts but we are before a criminal court and if you know what the criminal court establishment is about, it is not a remedial court.

“It is a punitive court and by extension, a reformative court so you come before a criminal court, you are not here to remedy a situation but we have come to pay the debt.”
He gave the assurance that as soon as the process was over, his firm would be happy to fulfil the necessary payment obligations to customers.

In dismissing the no-case application, the court presided over by Justice Ernest Owusu-Dapaah said the CEO of Brew Marketing Consul, the defunct gold dealership firm, and Menzgold have a case to answer and should open their defence.

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]]> NAM 1 to either walk free or open defence on July 10 https://www.adomonline.com/nam-1-to-either-walk-free-or-open-defence-on-july-10/ Wed, 12 Jun 2024 13:02:43 +0000 https://www.adomonline.com/?p=2408097

When Nana Appiah Mensah, popularly known as NAM1, appears in court on July 10 this year, he will either be acquitted or compelled to present his defence, as the court will decide whether the prosecution has successfully proven the charges against him.

NAM1, CEO of defunct Menzgold Ghana Limited, has been accused of defrauding his customers by disregarding the Bank of Ghana directive which barred Menzgold from taking deposits.

Menzgold Ghana Limited and Brew Marketing Consult Ghana Limited, entities owned by Nana Appiah Mensah aka NAM 1, have been charged with selling gold without a licence, operating a deposit-taking business without a licence, defrauding by false pretence, fraudulent breach of trust, inducement to invest, and money laundering.

On Tuesday, when prosecution and defence lawyers appeared in court together with the accused person and some of his victims, the lawyers in a lengthy argument, took turns to highlight their written submissions on whether the accused is innocent or he has questions to answer.

Tuesday’s argument was occasioned by an application of no case filed by lawyers for Nana Appiah Mensah, who after listening to testimonies by the nine witnesses called by the prosecution, said they believed their client was innocent.

Lead Counsel for the accused, Kwame Akuffo in his submission to the court said despite the loud complaints outside the court by persons who have allegedly been defrauded by his client, “only eight people have come to court “; arguing that if indeed the number of victims are as huge as has been portrayed, they should have come to court.

Focusing more on the charges brought against NAM 1, Kwame Akuffo contended that the prosecution cannot in the same breath charge his client for money laundering and defrauding by false pretence and that stealing and money laundering are mutually exclusive.

He said they have presented documents to the court that show that NAM 1 paid taxes to the state during the period of his operation, and that the prosecution has so far failed to show that the accused person didn’t have license to sell gold.

In a counter argument, the prosecution contended that Brew Marketing consult, one of NAM 1’s businesses he allegedly used to defraud his victims, is unknown to the Minerals Commission of Ghana to either purchase or export gold.

Menzgold on the other hand, according to prosecution, can only purchase and export minerals, and not operate as a deposit-taking business without license from the Bank of Ghana .

They argued that on the count of inducement to invest, NAM 1 engaged in advertisements by contracting celebrities. Advertisements, which according to prosecution, got huge responses from the public.

In all of this, according to the prosecution, NAM 1 knew that whatever he was churning out in the advertisement were false .

The prosecution in a response to an argument about the negligible number of witnesses presented by the state, said “even one witness is enough to convict Nana Appiah Mensah”.

The prosecution rounded up their submission by contending that the defence lawyers “nailed their own client when they tendered into evidence a number of customers who were defrauded by Nana Appiah Mensah and Menzgold.”

NAM1, who is currently on a GH¢500 million bail with four sureties, has so far pleaded not guilty to all the charges.

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]]> Menzgold: ’NAM1 induced public with celebrities’ – Investigator https://www.adomonline.com/menzgold-nam1-induced-public-with-celebrities-investigator/ Mon, 11 Mar 2024 09:49:42 +0000 https://www.adomonline.com/?p=2367266 The investigator in the trial of Nana Appiah Mensah alias NAM1, the CEO of defunct Menzgold Ghana Limited, has told a High Court in Accra that the accused used celebrities to induce members of the public to invest in his companies which were engaged in illegalities.

According to Deputy Superintendent of Police (DSP) Charles Nyarko, their investigations revealed that neither NAM1 nor his companies – Menzgold and Brew Marketing Consult were licensed by the Minerals Commission to sell gold or gold products to the general public, indicating that “the accused persons were involved in illegalities from the start.

He also told the court that neither NAM1 nor his companies were authorised by the Bank of Ghana (BoG) to take deposits from the general public.

“The accused persons induced the general public that they were authorised to run those businesses. That was not the only inducement, the accused person used celebrities to induce our complainants to invest with A2 and A3 (Menzgold and Brew Marketing),” the investigator told the court.

He mentioned some of the celebrities as Okyeame Kwame, Stonebwoy, Becca, Jackie Appiah and Joselyn Dumas.

“These celebrities were found on billboards of Menzgold with branded Menzgold chips in the catchment area of the second and third accused. My Lord, with this, with careers that these celebrities built for themselves over the period, our complainants fell into this inducement,” DSP Nyarko added.

NAM1 and two of his companies – Menzgold Ghana Limited and Brew Marketing Consult Ghana Limited are facing 39 counts of defrauding by false pretence, inducing members of the public to invest and money laundering.

Funds Transfer

The investigator told the court that per a letter dated January 10, 2019, the police requested information from the Office of the Registrar of Companies on all companies linked to NAM1 and a total of 27 companies were linked to him.

Led in his evidence-in-chief by the Director of Public Prosecutions, Yvonne Atakora Obuobisa, the witness indicated that investigations revealed that Zylofon Media was established as a company solely in the entertainment business, however, NAM1 transferred substantial funds from Menzgold and Brew Marketing Consult to Zylofon, totaling GH¢84,480,811.00.

On July 20, 2018, an amount of GH¢2 million was transferred to Zylofon Media, while a total of GH¢26,930,997.00 was transferred from the account of Brew Marketing to Zylofon between March and December 2017.

Another GH¢55,549,814.00 was transferred from the Bank of Africa account of Brew Marketing to Zylofon Media between January and April 2018.

DSP Nyarko states that except for the fact that NAM1 owned Menzgold, Brew Marketing Consult and Zylofon Media, “I found that there was no justifiable reason for the huge transfers from A3 (Brew Consult) to Zylofon.”

The investigator also revealed the transfer of huge sums of money totalling GH¢155,552,141.30 from Brew Consult into the personal account of NAM1.

He gave the breakdown as a transfer of GH¢113,400,000.00 which was paid to NAM1 personally between October 18, 2017 and July 13, 2018.

Between April and December 2017, a total of GH¢23,410,000.00 was transferred from the account of Brew Marketing Consult and withdrawn by NAM1.

Again, the investigator revealed that another GH¢18,742,141.30 was transferred from the account of Brew Consult to NAM1 between January and April 2018.

DSP Nyarko also revealed that between July 11 and August 15, 2018, an amount of GH¢66 million through cheque payments was made to Abigail Mensah, who is the younger sister of NAM1.

]]> Menzgold trial: Aggrieved customers assault PRO; judge reacts https://www.adomonline.com/menzgold-trial-aggrieved-customers-assault-pro-judge-reacts/ Fri, 17 Nov 2023 14:40:47 +0000 https://www.adomonline.com/?p=2320676 The presiding Judge hearing the case involving the Chief Executive Officer (CEO) of defunct company Menzgold Limited, Nana Appiah Mensah, has ordered the court to tighten security at the entrance of the High Court during the trial.

This, Justice Ernest Owusu Dapaah said, has become necessary after the company’s Public Relations Officer (PRO), Mantsebi Nii Armah, was reportedly assaulted by aggrieved customers during the last hearing.

In court on Friday, November 17, lead counsel for NAM1, Kwame Boafo Akuffo notified the court that one of the aggrieved customers struck the forehead of the PRO of Menzgold as they made their way to the courtroom.

At the last sitting, Police had to intervene to throw out some of the customers who had thronged the premises of the court after some of them occupied seats meant for lawyers.

Meanwhile, the Attorney-General has withdrawn all previous charges against the Menzgold CEO and proffered new ones.

The Director of Prosecution, Yvonne Atakora, indicated that an amendment had been made to some of the amounts of monies involved in the case, necessitating the filing of new charges.

This, she maintained, was in best interest of the state.

The case has since been adjourned to December 4, 2023, to enable NAM1’s lawyers to review the new charges.

Nana Appiah Mensah had earlier been charged with offences including selling gold without licence, operating deposit-taking institution without a licence, inducement to invest and defrauding by false pretence, fraudulent breach of trust and money laundering to the tune of GH¢1.68 billion.

The government debunked assertions by the former Menzgold boss, that he deposited GH¢5 million with the Ghana Police Service to be distributed to the aggrieved customers.

The Attorney-General and Minister for Justice, Godfred Yeboah Dame speaking on the floor of Parliament indicated that, only GH¢2.5 million was received from NAM1 and not the reported GH¢5 million.

The Ghana Police Service has since deposited the money with the Central Bank.

Reacting to the development, Spokesperson for the Aggrieved Menzgold customers, Fred Forson told journalists that they support the decision of the Ghana Police to deposit the money with the Bank of Ghana.

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]]> Menzgold customers storm court ahead of NAM 1’s hearing https://www.adomonline.com/menzgold-customers-storm-court-ahead-of-nam-1s-hearing/ Fri, 27 Oct 2023 13:41:23 +0000 https://www.adomonline.com/?p=2310863 The police are having a tough time controlling a swarm of Menzgold customers who have stormed the court ahead of Nana Appiah Mensah’s (NAM 1) second appearance.

The trial in which NAM 1 is facing 39 counts, ranging from violation of Act 930, defrauding by false pretence, fraudulent breach of trust, and money laundering, was slated for 12:30 p.m. on Friday.

But hours before the time slated for the trial, over 100 customers thronged the court, awaiting the case to be called. 

Many of the customers occupied seats meant for lawyers.

Graphic Online reported that, the police had to force some of them out.

Meanwhile, the case is yet to be called.  

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]]> NAM1 reacts to decision of police to deposit GH₵2.‎5m at BoG https://www.adomonline.com/nam1-reacts-to-decision-of-police-to-deposit-gh%e2%82%b52-5m-at-bog/ Wed, 25 Oct 2023 12:26:39 +0000 https://www.adomonline.com/?p=2309903 Embattled Chief Executive Officer (CEO) of Menzgold Ghana Limited, has stated that he will go back to the Ghana Police Service and take his 2.5 million Ghana cedis sent to them for distribution.

According to him, the police have acted wrongly in sending the money to the Bank of Ghana.

Speaking on Accra-based Star FM, NAM 1 further stated that if the police cannot assist in the distribution of the money he will make his own security arrangements and have the money distributed to customers.

“The intent was not to give money to the police to distribute. We went to the police because we wanted security. The agreement with the police was to have them provide a desk where we could distribute the money.

“I am surprised the money has been deposited at the Bank of Ghana. I will go back to the police and ask them to give the money back to me because that was not the arrangement we had,” he added

Mr. Mensah further stated that he “only contacted the police to give us security” adding that “the court has no responsibility to pay my customers.”

Background

The Police, on the advice of the Office of the Attorney-General, on Friday 20th October 2023, received an amount of GH₵2.5 Million from suspect Nana Appiah Mensah, popularly known as Nam 1.

In a statement the Police administration indicated that the said amount has been deposited in the Police Exhibit account at the Bank of Ghana (BoG) for the attention of the Court.

According to the Police, the amount is part of investigations into petitions received from some customers of MenzGold Ghana Company Limited and Brew Marketing Consult Limited, currently before the Accra High Court against suspect Nana Appiah Mensah, popularly known as Nam 1.

“We would like to state that the decision on the disbursement of the money would be determined by the court,” the statement concluded.

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]]> BoG advised me to streamline Menzgold operations – NAM 1 https://www.adomonline.com/bog-advised-me-to-streamline-menzgold-operations-nam-1/ Tue, 19 Sep 2023 12:58:12 +0000 https://www.adomonline.com/?p=2295823 Founder of Menzgold, Nana Appiah Mensah aka NAM 1, who is standing trial for allegedly using the company to defraud over 16,000 people of GH¢1.6billion, has denied circumventing the laws of the country in order to operate an illegal gold deposit-taking business 

Counsel for NAM 1, Kwame Akuffo, told an Accra High Court today that his client did not circumvent the Banking and Specialised Deposit-Taking Institutions Act, 2016 (Act ) as alleged by the prosecution to enable him carry out the operations of Menzgold.

Mr. Akuffo claimed that it was officials of the Bank of Ghana (BoG) who advised his client (NAM 1) to change Menzbank (the previous name of Menzgold) to Menzbanc.

“Indeed, in meetings with the BoG, it was the BoG that recommended that third accused company( Brew Marketing Consult)  be set up in order to ensure that the gold marketing business was kept distinct from the business of Menzgold,” counsel said.

Mr Akuffo said he would not mention the names of the BoG officials who gave the advice to his client, but at the appropriate time during trial, he would subpoena them to testify to aid the defence of his client.

“I will skip the names because the court may take evidence from them in camera,” counsel said.

Not guilty 

Meanwhile, NAM 1  has pleaded not guilty to 39 counts, ranging from violating Act 930, defrauding by false pretence, fraudulent breach of trust, and money laundering.

The court, presided over by Dr Ernest Owusu-Dapaa, a Justice of the Court of Appeal, sitting as an additional High Court judge, admitted NAM 1 to bail in the sum of GH¢500million, with four sureties.

As part of the bail conditions, Justice Owusu-Dapaa, also ordered NAM 1 to deposit his passport with the Registrar of the Court, and also report to the Headquarters of the Criminal Investigations Department (CID) every Thursday.

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]]> NAM 1 granted GH¢500m bail https://www.adomonline.com/nam-1-granted-gh%c2%a2500m-bail/ Tue, 19 Sep 2023 12:48:00 +0000 https://www.adomonline.com/?p=2295840 Chief Executive Officer of defunct Menzgold Ghana Limited, Nana Appiah Mensah, has been granted bail to the tune of GH¢500 million with four sureties, none to be justified.

He has also been directed to leave his passport at the court registry as part of the bail conditions.

This comes after he pleaded not guilty to some 39 counts of fraud and money laundering charges.

NAM 1 pleads not guilty to 39 charges of fraud, money laundering

The AG slapped Nana Appiah Mensah popularly known as NAM 1 with 39 counts of offences including money laundering abetment, defrauding by false pretences, carrying on deposit-taking without the requisite license unlawful deposit-taking and money laundering among other charges.

This is a reduction from the initial 61 charges brought against him.

His lawyer, Kwame Akuffo, prayed the court to maintain the condition of GH¢5 million with no justification which was the conditions of the bail he was given at the circuit court where the case was previously heard before a nolle prosequi was entered by the state.

The state represented by Deputy Attorney General, Alfred Tuah Yeboah did not oppose the bail application but, however, asked for the accused to be made to deposit his passport.

Alfred Tuah Yeboah further urged the court to consider the sum of GH¢1.68 billion involved in the matter.

The judge after considering the application granted bail to the tune of GH¢500 million with four sureties with none to be justified.

Nam 1 has further been directed to report to the CID headquarters every Thursday.

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]]> NAM 1 pleads not guilty to 39 charges of fraud, money laundering https://www.adomonline.com/nam-1-pleads-not-guilty-to-39-charges-of-fraud-money-laundering/ Tue, 19 Sep 2023 12:17:26 +0000 https://www.adomonline.com/?p=2295818 Chief Executive Officer of defunct gold dealership firm Menzgold, Nana Appiah Mensah, popularly known as NAM 1, has pleaded not guilty to all 39 counts of offences.

The AG slapped Nana Appiah Mensah popularly known as NAM 1 with 39 counts of offences including money laundering abetment, defrauding by false pretences, carrying on deposit-taking without the requisite license unlawful deposit-taking and money laundering among other charges.

This is a reduction from the initial 61 charges brought against him.

The Attorney General commenced investigations against NAM 1 in 2019 where he was accused of defrauding thousands of customers through his gold dealership firm over millions of Ghana cedis.

The case has witnessed several adjournments until fresh charges were filed on August 30, 2023.

The new charges come after Mr Appiah Mensah announced plans to unfreeze locked up funds of Menzgold customers after payment of ¢650 for verification.

Subsequently, he reversed the decision to require former clients to purchase a verification access card in order to verify transactions and validate claims strong backlash from customers and the public.

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]]> AG files fresh charges in NAM 1 case https://www.adomonline.com/ag-files-fresh-charges-in-nam-1-case/ Wed, 30 Aug 2023 17:40:47 +0000 https://www.adomonline.com/?p=2289186 Attorney General Godfred Yeboah Dame has filed new charges against the Chief Executive Officer of defunct Menzgold Ghana Limited, Nana Appiah Mensah, alias NAM 1.

The new charges were filed on Wednesday, August 30, 2023.

The court hearing has been scheduled for September 19, 2023.

Mr Appiah Mensah has been charged with 36 counts of offences including abetment, defrauding by false pretences, carrying on deposit-taking business without license, unlawful deposit-taking, money laundering among others.

The Attorney General commenced the prosecution of NAM 1 in 2019 where he was accused of defrauding thousands of customers through his gold dealership firm over millions of cedis.

The case has witnessed a number of adjournments until fresh charges were filed today, Wednesday, August 30, 2023.

The new charges come after Mr Appiah Mensah announced plans to release locked-up funds to Menzgold customers after a payment of roughly GH₵650 for verification.

Subsequently, he reversed the decision to require former clients to purchase a verification Access Card in order to verify transactions and validate claims following strong backlash from his customers and the public.

“Menzgold would cease the production and printing of the PVC Digital Access Cards, which imposes a cost burden,” the defunct company said in a communique.

The company said it is resorting to “the printing of the PIN Codes only, for onward distribution at no cost subject to the following conditions, that; Clients with INVALID status may choose to either walk away or still in the face of the one or several of the 10 invalidity status reasons provided, adamantly proceed to seek redress or review of the invalidity determination, which shall come at a fee to avoid the abuse of our time, human and logistics resources.”

]]> I don’t own anything in Ghana, not even a car – Nam 1 https://www.adomonline.com/i-dont-own-anything-in-ghana-not-even-a-car-nam-1/ Tue, 22 Aug 2023 11:46:41 +0000 https://www.adomonline.com/?p=2285888 In the ongoing Menzgold controversy, where victims are relentlessly seeking justice for their vanished investments, the Chief Executive Officer has portrayed himself as the foremost casualty of the entire debacle.

As the demands for accountability persist, Nana Appiah Mensah, also known as NAM 1, has admitted to being the one bearing the brunt of the crisis’ fallout.

NAM 1’s assertion stems from the personal losses he claims to have incurred due to the downfall of Menzgold.

He emphasized that the company’s collapse has left him bereft of all possessions.

In the heated conversation on social media, he declared that “If you want to crown the biggest loser in all of this thing, I am the one, because I lost everything: I lost all my properties and I don’t even have a car of my own in this country.”

This revelation was unveiled in a Twitter Space conversation on Monday, August 22, 2023.

Nana Appiah Mensah used the platform to clarify that, despite the allegations levelled against him, he has not personally profited from the customers’ funds.

“If one person has lost that one account, it means good has to come the biggest loser of the Biggest Loser. My mom invested, my sister’s invested, my wife invested, my in-laws invested. Right? All my friends invested, I invested, I have really great relations in Spain and in Europe and elsewhere who invested and refered other people to invest. So it is not like the transactions, like I said yesterday, the company packs the money to gives it to me and then I take it to my house on day to day basis. It doesn’t work like that.”

Responding to claims that affected customers have died with others suffered blows to relationships, and health while drowning in debt, he acknowledged that he has become the focal point of blame and scapegoating in the complex narrative surrounding Menzgold’s collapse.

While empathizing with the individuals who have been adversely impacted by the financial turmoil stemming from Menzgold’s closure, Nana Appiah Mensah expressed his retrospective desire to have intervened sooner to prevent the escalating crisis.

“Yes, I sympathize with what has happened, and if I have my own way, I would fix it. And I’m making an effort,” he added.

He reiterated that payment will begin on October 20, 2023, after the validation is executed.

The company has indicated that about 5,000 customers have been reimbursed so far but the CEO fell short of stating how many customers were owed in total claiming that is the point of the ongoing validation process.

]]> NAM 1’s case adjourned to April 25 https://www.adomonline.com/nam-1s-case-adjourned-to-april-25/ Mon, 27 Mar 2023 13:23:51 +0000 https://www.adomonline.com/?p=2232839 An Accra Circuit Court has adjourned to April 25, the case of Nana Appiah Mensah, aka NAM 1, Chief Executive Officer of Menzgold Ghana Limited, accused of duping customers of their deposits of over GH¢1.6 billion.

Relieving Judge, Mrs Afia Owusua Appiah, adjourned the case because the prosecution had informed the court that the police were still waiting for the Attorney General’s advice.

The Court said the matter would be adjourned awaiting any updates from the Attorney General’s Department.

When it was called, Assistant Superintendent of Police (ASP) Emmanuel Haligah, who held the brief of Superintendent of Police Sylvester Asare, said the Police were still waiting for the Attorney General’s advice.

He, therefore, prayed for a date.

Ms. Audrey Twum, who also held the brief of Kwame Boafo for the accused person and the prosecution, agreed on a date.

This is the 33rd time that the accused person had appeared before the court over the past two years

Nana Mensah is facing 61 counts of abetment of crime, defrauding by false pretences, carrying on deposit-taking business without license, sale of minerals without license, unlawful deposit-taking, and money laundering.

The accused person has denied the charges and the court on July 26, 2019, admitted him to bail in the sum of GH¢1 billion with five sureties, three to be justified.

The court ordered him to be reporting to the police every Wednesday pending the outcome of the case.

]]> NAM1 makes 33rd appearance in court without trial https://www.adomonline.com/nam1-makes-33rd-appearance-in-court-without-trial/ Fri, 24 Mar 2023 09:52:00 +0000 https://www.adomonline.com/?p=2232051 Embattled Chief Executive Officer (CEO) of Menzgold Ghana Limited, Nana Appiah Mensah (NAM1), made his 33rd appearance in court on Thursday, March 23, three years and eight months since he was first arraigned on July 12, 2019.

Nana Appiah Mensah, popularly known as NAM1, was initially charged with some 13 counts but that had since been amended with his plea yet to be taken on the amended charge sheet filed on September 3, 2019, which introduced some 61 new charges.

In court on Thursday, March 23, 2023, when NAM1 made his 33rd appearance, the case was again adjourned with the trial yet to commence.

Before a relieving Judge, Her Honour Afia Owusua Appiah, Prosecution represented by ASP Emmanuel Haliga who was holding Superintendent Sylvester Asare’s brief told the court that the prosecution is still awaiting advice from the Attorney General’s office for the next line of action.

He, therefore, prayed for an adjournment and after consulting his diaries together with Lawyer Audrey Twum, who was holding lawyer Kwame Boafo’s brief agreed with the court and settled on April 25, 2023.

NAM1 made his 30th, 31st and 32nd appearances on November 9, and December 14, both in 2022 and January 2, 2023, respectively.

From July 12, 2019, the CEO of the gold dealership firm has trekked court at least 29 times by September 27, 2022.

EIB Network’s Murtala Inusah who compiled the number of times NAM1 had appeared in court since July 12, 2019, said, the businessman would make at least his 34th appearance on April 25, 2023.

Previous appearances

In 2019, NAM1 made six appearances at the Circuit Court in Accra while in 2020 he appeared in court eight times. He then made further nine appearances in 2021 and five times in 2022.

In 2019, the CEO of Menzgold appeared in court on July 12 (his first) and made subsequent appearances on August 6, September 3, October 23, November 20 and December 23.

For 2020, the CEO of Menzgold made appearances on January 21, March 6, June 24, July 20, September 7, October 1, November 4 and December 16.

In 2021, NAM1 made nine appearances on January 20, March 2, April 1, May 27, July 6, September 2, October 11, November 22 and December 21.

In 2022, the embattled CEO of Menzgold was in court five times on February 21, April 4, May 16, July 15 and August 16 with the next court hearing fixed for September 27.

Meanwhile, he had also made court appearances in a Dubai Court prior to his return to Ghana following the collapse of Menzgold.

Main trial

On August 17, 2019, the embattled NAM 1 was released from police custody after meeting his varied bail conditions.

NAM1 together with his wife Rose Tetteh and his sister Benedicta Appiah (both at large) were facing a total of 13 counts of defrauding by false pretences, money laundering, abetment and carrying on deposit-taking business without licence.

Two of his companies- Menzgold Ghana Limited and Brew Marketing Consult Limited – have also been charged with seven counts of defrauding by false pretences and carrying on deposit-taking business without licence.

On July 26, 2019, NAM1 pleaded not guilty to all the charges and the court presided over by Jane Harriet Akweley Quaye granted him bail to the tune of GH¢1 billion (about $185 million) with five sureties, three of which are to be justified.

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Additionally, he was ordered by the court to report to the police every Wednesday.

But the condition that required him to ensure three of the five sureties provide justification was removed when he could not meet his initial bail terms.

Charges

The initial counts preferred were defrauding by false pretences, abetment to defraud by false pretences, carrying deposit business without licence, abetment of sale of minerals without licence, sale of minerals without licence, abetment of unlawful deposit-taking, unlawful deposit-taking and money laundering.

Brief facts

The brief facts of the case as presented to the court by then ASP Asare, (now Superintendent Sylvester Asare) were that in October 2018, the police received a complaint from about 16,000 people that Menzgold had convinced them to invest GH¢1.68 billion in a gold purchase scheme that yielded 10 per cent monthly interest.

ASP Asare told the court that, the complainants said their money was locked up and they could not find Mensah and the other principal officers of the company.

He said investigations revealed that Menzgold and Brew Marketing Consult were incorporated as limited liability companies in 2013 and 2016, respectively.

DSP Asare (now said Menzgold obtained a licence from the Minerals Commission in August 2016 to purchase and export gold from small-scale miners, and that in order to successfully engage in the business, Nana Appiah founded Brew Marketing Consult to be a gold buying agent.

DSP Asare said although Menzgold was licensed to purchase gold, it was not licensed by the Minerals Commission to trade in gold.

Notwithstanding the lack of such a licence, he said, Menzgold went public after its incorporation and invited the public to deposit money for a fixed period with interest, on the pretext of gold purchasing.

He said further investigations revealed that the three accused persons were the directors and principal officers of Menzgold and Brew Marketing Consult.

]]> NAM 1’s latest response to Menzgold customer who requested for locked up funds https://www.adomonline.com/nam-1s-latest-response-to-menzgold-customer-who-requested-for-locked-up-funds/ Mon, 16 Jan 2023 14:06:28 +0000 https://www.adomonline.com/?p=2205337 The Chief Executive Officer of the defunct Menzgold gold-trading firm, Nana Appiah Mensah, has urged customers who have their investment folded to be patient as he readies himself to pay them off.

The executive leader also known as NAM 1, in a reply to one of his customers who needed money urgently, asked him to be patient.

The customer by the username, Dr Odaani Venture, asked: “Nana hope you’re fine please kindly pay me wai why you have pay some and leave some? I need my money. [SIC]”

In a riposte, NAM 1 said with a laughing emoji: “Don’t worry big man. Just a couple of months more. Obiaa )y3 real biaa b3 gy3 cash.”

NAM 1’s latest response to Menzgold customer who requested for locked up funds

This altercation follows NAM 1’s tweet urging Ghanaians to anticipate for a new Zylofon Music company.

He tweeted: A new dawn for Creative Arts, Mass Media, Sports, Science & Information Technology. A brand new organization. A giant leap into everlasting glory. Anticipate the NEW ZYLOFON…Creativity, Innovation & Technology. #GhanaShallProsper.

MORE:

]]> EOCO should have acted quickly in freezing NAM 1’s assets – Former Deputy AG https://www.adomonline.com/eoco-should-have-acted-quickly-in-freezing-nam-1s-assets-former-deputy-ag/ Tue, 13 Sep 2022 15:59:36 +0000 https://www.adomonline.com/?p=2162233 A former Deputy Attorney General has criticised the Economic and Organised Crime Office (EOCO) for its delay in freezing the accounts of the Chief Executive Officer of the defunct Menzgold company.

Joseph Kpemka said EOCO did not act quickly enough.

According to him, the institution should have pursued justice for the customers of the firm.

Mr Kpemka, who was head of a government delegation probing the matter at the time, noted that the impact would have been less had EOCO taken the necessary action in time.

“EOCO should have reacted quickly by freezing such accounts immediately it came to its attention. At the time, we had not mounted any civil action against NAM 1 so EOCO had the power to freeze his accounts.”

On Monday, September 12, aggrieved customers of Menzgold thronged the principal streets of Accra to remind the government of their locked-up monies.

In 2018, Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC).

According to the SEC, Menzgold had been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns with clients, without a valid license.

This, the SEC said was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”

Menzgold has, however, failed to fully pay its customers the value of their gold deposits as well as their entire investments.

Some aggrieved customers have, since, staged protests to demand the payment of their locked-up cash.

]]> NAM 1’s docket almost ready for prosecution – Attorney-General https://www.adomonline.com/nam-1s-docket-almost-ready-for-prosecution-attorney-general/ Mon, 05 Sep 2022 17:09:07 +0000 https://www.adomonline.com/?p=2159043 The Attorney-General and Minister for Justice, Godfred Yeboah Dame, has indicated the docket for the prosecution of the Chief Executive Officer (CEO) of Menzgold Ghana Limited, Nana Appiah Mensah, popularly known as NAM 1, is almost ready.

Speaking on the Financial sector crisis in Ghana at Cambridge University, the Attorney-General bemoaned how badly Ghana’s economy has been hit by the banking sector crisis and the operations of Ponzi schemes.

“Between August 2017 and January 2020, Ghana was hit by a severe banking crisis that affected several institutions, and several indigenous banks, as a result of which the central bank ordered a take-over of some of the banks by the Ghana Commercial Bank. The Central bank cited the insolvency of the banks as a significant reason for revoking their license.

“Five indigenous banks were consolidated to form the Consolidated Bank Ghana Limited. A deeper examination of the banking crisis showed poor corporate governance, non-performing loans, breach of directors’ obligations, credit risks, and regulatory lapses were responsible for the vulnerabilities the banks were exposed to. Internal auditors who were required to superintend proper accounting practices were complacent and covered up Executive Directors. The recent banking crisis held ramifications for the entire economy. It was the most severe economic crisis to affect Ghana since independence.”

He said to deter a reoccurrence of the banking sector crisis, 20 individuals and companies have been put on trial for offences bordering on stealing, fraudulent breach of trust, money laundering, and wilfully causing financial loss to the state.

Giving an update on the Menzgold case, the Attorney-General indicated that after “painstaking investigations, dockets of the financial crime are almost ready for the prosecution to commence in earnest.”

“The Office of Attorney-General is prosecuting other cases including stealing, willfully causing financial loss to the state, and money laundering,” he added.

]]> NAM1 trial: We’re still waiting for AG’s advice – Prosecution to court https://www.adomonline.com/nam1-trial-were-still-waiting-for-ags-advice-prosecution-to-court/ Mon, 16 May 2022 12:20:59 +0000 https://www.adomonline.com/?p=2114964 The prosecution in the case in which Nana Appiah Mensah popularly known as NAM1 is standing trial has told the court they are still waiting for the Attorney General’s advice on the matter.

The Circuit Court in Accra presided over by Her Honour Evelyn Asamoah on April 4 adjourned the case to today.

When the case was called today, DSP Sylvester Asare, told the court that, they are yet to receive the advice from the AG’s office in order to appropriately advise the court.

He, therefore, prayed for an adjournment to the second week of July. The case was subsequently adjourned to July 16.

The Chief Executive Officer of gold dealership firm Menzgold has been arraigned to face some 61 charges.

The accused person was present in court with Audrey Twum holding Kwame Akuffo’s brief as his counsel.

Earlier this year, on February 21, lawyers of the Chief Executive Officer of Gold dealership firm Nana Appiah Mensah asked the court to strike out charges levelled against him if the prosecution was not ready.

NAM1 has since 2019 been appearing before the court for charges including defrauding by false pretences with the trial yet to commence.

Background

NAMI was initially charged with 14 counts of abetment of crime, defrauding by false pretences, carrying on a deposit-taking business without a licence, sale of minerals without a licence, unlawful deposit-taking, and money laundering.

The charges were later amended from to 61 with his plea yet to be taken on them.

It is alleged that the accused had taken various sums of money, totalling GH¢1.6 billion from customers.

The State had previously on June 24, 2020, filed new charges against the CEO of Menzgold, also known as NAM 1 at the Accra Circuit Court.

DSP Sylvester Asare then told the Court that his directives were that he should hold on to the new charges and the plea taking of the accused.

The Circuit Court on July 26, 2019, granted NAM 1 bail in the sum of GH¢1 billion cedis with five sureties, three to be justified.

He had pleaded not guilty to all initial 13 charges levelled against him by the State. The state had since amended its charged sheet which is yet to be moved.

He is also to report to the police every Wednesday at 10:00 hours.

]]> NAM 1 reaches out to KK Fosu for a song deal https://www.adomonline.com/nam-1-reaches-out-to-kk-fosu-for-a-song-deal/ Fri, 25 Feb 2022 11:35:20 +0000 https://www.adomonline.com/?p=2084035 Embattled Menzgold Chief Executive Office, Nana Appiah Mensah, popularly known as NAM1, has reached out to highlife musician KK Fosu for a song remix.

NAM 1 has suggested to the 41-year-old artiste to produce a remix of his 2007 hit track Sudwe.

This was after Sarkodie, in a birthday tweet, said Sudwe is one of his favourite Ghanaian songs.

Few moments after Sarkodie lauded K.K. Fosu, NAM1 waded into the celebration.

According to him, Sudwe is an unforgettable hit that cannot be omitted from the history books of Ghana music, hence should be tapped fully.

NAM 1 also extended the invitation to alumni of the Aggrey Memorial SHS, 2001 to 2006 batch to support the worthy course.

Meanwhile, KK Fosu, after dropping the Sudwe song in his prime, recruited music stars such as Samini (then Batman), Kokoveli and rapper Tinny.

]]> Court orders sale of NAM1 properties https://www.adomonline.com/court-orders-sale-of-nam1-properties/ Thu, 20 Jan 2022 08:20:12 +0000 https://www.adomonline.com/?p=2069575 The Financial and Economic Crimes Division of the Accra High Court presided over by Justice Afia Serwaa Asare Botwe has granted express permission to the Economic and Organized Crime Office (EOCO) to sell properties of suspected fraudster Nana Appiah Mensah.

The order follows a motion filed by EOCO praying the court to allow it to auction the properties of the defunct company.

The companies that will be sold along with its assets include Brew Energy, G-Tech Automobile Service. Zylofon Art Complex. Brew Marketing Consult, Star Madrid Football Club, Zylofon Music and Media Company Limited.

Also two properties located at Trassaco Valley, an uncompleted residential property and 510 acres of land said to belong to NAM 1 were also frozen by the court.

On January 18. 2021. lawyer for EOCO, Abu Issa, submitted that EOCO and other law enforcement agencies investigated Menzgold and found out that it had engaged in money laundering and other serious offences.

The motion, he said, was premised on Sections 2 and 3 of the EOCO Act, 2010 (Act 804) which gave the law enforcement agency the power to undertake such action.

Nana Appiah Mensah popularly known as NAM1 is an alleged fraudster known for starting Menzgold, a gold dealership and investment firm that promised customers a 10 percent monthly returns on their investments.

NAM1 is also the chief executive officer of Zylofon Media which had signed Ghanaian musicians such as Shatta Wale, Stonebwoy, Becca, Joyce Blessing, and Kumi Guitar, and movie stars such as Jackie Appiah, Benedicta Gafah, and Toosweet Annan.

]]> Court orders arrest of NAM 1 and 2 others https://www.adomonline.com/court-orders-arrest-of-nam-1-and-2-others/ Thu, 04 Nov 2021 16:17:18 +0000 https://www.adomonline.com/?p=2038751 The Adentan Circuit Court in Accra has issued a bench warrant for the arrest of the Chief Executive Officer of defunct Menzgold, Nana Appiah Mensah (NAM1), and two others for allegedly defrauding some people.

The court issued the warrant following the failure of the accused persons to appear in court.

On Tuesday, November 2, 2021, the court ordered the accused persons who had failed to appear before it to show up today, Thursday.

According to the prosecution, which requested the arrest warrant, NAM1 and the two others have declined several Police invitations extended to them.

Meanwhile, the lawyer for the three accused persons, Yaw Dankwah, speaking to the media after court proceedings, says his clients should have been served personally with the criminal summons.

“They have never been arrested. They have never been cautioned, yet the police have come to court with four counts of charges again them,” Mr. Dankwah complained.

He explained that they were caught off guard by the charges which came on Tuesday and had asked for an adjournment of the case for two weeks.

But Mr. Dankwah said the judge did not grant his request and gave them up till today [Thursday] to be in court.

“Unfortunately, they could not. They are out of the city,” he said.

It is unclear if the warrant is related to the collapse of Menzgold.

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Mr. Appiah Mensah had previously been slapped with 13 counts of defrauding by pretenses, money laundering, abetment, and carrying on deposit-taking business without license contrary to Section 6 (1) of the Banks Specialised Deposit-taking Institutions Act, 2016 (Act 930).

This was after he was accused of defrauding 16,000 customers of about GHS 1.68 billion.

Menzgold collapse

Menzgold was asked to suspend its gold trading operations with the public by the Securities and Exchange Commission (SEC) in 2018.

Menzgold was said to have been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns with clients without a valid license from the Commission.

However, the company was cleared to continue its other businesses of assaying, purchasing gold from small-scale miners, and export of gold.

Despite initial protests, Menzgold complied with the directive.

Over two years on, the company has failed to fully settle its aggrieved customers the value of their gold deposits and their entire investments.

]]> Shatta Michy responds to rumours of her dating NAM 1 https://www.adomonline.com/shatta-michy-responds-to-rumours-of-her-dating-nam-1/ Thu, 23 Sep 2021 17:35:13 +0000 https://www.adomonline.com/?p=2019392 Musician Shatta Wale’s ex-lover, Shatta Michy, has had enough of the speculations that she is involved in an amorous relationship with Nana Appiah Mensah, popularly known as NAM 1.

Accusations were made by Shatta Wale’s supposed cousin-turned-lover that Michy was dating NAM 1, among other issues relating to the business mogul.

Shatta’s cousin added that Michy’s relationship with NAM 1 is one of the many reasons why she fell off with Wale.

Reacting to the allegation a month after the issue died down, Michy said in an interview that she indeed has a relationship with NAM 1.

She, however, elaborated that it is on a business level and in no way connected to him romantically.

Her reason is that he is a well-known married man and she did not leave her relationship just to be a side chick.

“He is a married man, I did not leave somebody to come and be somebody’s side chick. We’ve met but we don’t even have a close friendship, it’s mainly business”.

She said rumours of her dating NAM 1 hover around her because she has announced her position as a single mother-of-one.

She described the speculations as normal except that “they are ruining her market” now that she is ready to settle down.

]]> Menzgold case adjourned over NAM 1’s cough https://www.adomonline.com/menzgold-case-adjourned-over-nam-1s-cough/ Tue, 06 Jul 2021 14:07:41 +0000 https://www.adomonline.com/?p=1983031 The Chief Executive Officer of Menzgold Ghana Limited Nana Appiah Mensah has been taken ill and has been asked to see his doctors.

Nana Appiah Mensah, affectionately called NAM1 was not in court on Tuesday, July 6, for the Case in which he has been arraigned for fraud.

Before the Circuit Court in Accra presided over by Her Honour Mrs Evelyn Asamoah, his lawyer Audry Twum holding Kwame Akufo’s brief said their client is “coughing.”

“My Lady, our client is not well. He has been coughing and we have asked him to see the doctors this morning. Our apologies to the court for his absence,” his counsel told the court.

Assistant Superintendent of Police (ASP) Slyvester Asare, the Prosecutor in the case said the accused has always been in court and for the sake of his absence, he prayed for the case to be adjourned.

EIB Network’s Court Correspondent Murtala Inusah reports that the case has been adjourned to September 2, 2021, after the parties had approached the bench (judge) upon the prosecutor’s request.

The prosecution failed to file processes

At the last court sitting on May 27, the prosecution was unable to file processes as per the court orders.

Earlier, the court presided had ordered the prosecution to file the necessary processes prior to the May 27 sitting. The court warned it would be forced to strike out the case should the prosecution fail to do so.

But, ASP Asare said, the prosecution was unable to file the processes on time as directed by the court and “we submit that in all humility this is no deliberate attempt to delay this court.”

According to ASP Asare, “the records will show that at the last sitting, we indicated and pleaded with the court as it is in the interest of justice” and that “this morning we are again on bended knees, although standing, we ask that you give us the necessary ear.”

He said, Prosecution will ensure that “we file the necessary processes. We pray that in the interest of justice, my Lady grants an adjournment to enable parties to put their house in order.”

On March 2, the court warned it would be forced to strike out the case.

The court said it was unhappy about the delay on the part of the prosecution to file the necessary documents to commence the trial.

On that day, ASP Asare, the prosecutor in the case, again prayed the court, to give them more time be to able to file their witness statement and other documents.

It was the case of the prosecution that, the number of victims involved in the case is over 16, 000 people and therefore more time would be required by the prosecution to do the necessary investigations.

ASP Asare prayed with the court for time and begged the court not to strike out the case.

NAMI was initially charged with abetment of crime, defrauding by false pretences, carrying on a deposit-taking business without a licence, sale of minerals without a licence, unlawful deposit-taking, and money laundering.

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It is alleged that the accused had taken various sums of money, totalling GH¢1.6 billion from customers.

The State had previously on June 24, 2020, filed new charges against the CEO of Menzgold, also known as NAM 1 at the Accra Circuit Court.

ASP Sylvester Asare then told the Court that his directives were that he should hold on to the new charges and the plea taking of the accused.

Bail

The Circuit Court on July 26, 2019, granted NAM 1 bail in the sum of GH¢ 1 billion cedis with five sureties, three to be justified.

He had pleaded not guilty to all initial 13 charges levelled against him by the State. The state had since amended its charged sheet which is yet to be moved.

He is also to report to the police every Wednesday at 10:00 hours.

]]> NAM1 reacts to Ghanaians calling for his arrest instead of Akuapem Poloo https://www.adomonline.com/nam1-reacts-to-ghanaians-calling-for-his-arrest-instead-of-akuapem-poloo/ Thu, 15 Apr 2021 11:48:08 +0000 https://www.adomonline.com/?p=1948562 Chief Executive Officer Of defunct Menzgold, Nana Appiah Mensah, has reacted after Ghanaians have called for him to be jailed instead of Akuapem Poloo.

Following Poloo’s conviction for posing nude with her seven-year-old son, Ghanaians have demanded the court rather cuts the actress some slack and rather deal with Nana Appiah Mensah.

A #FreeAkuapemPoloo movement is ongoing on social media, with Ghanaians advocating for authorities to divert their attention to other cases.

Of the many cases and personalities mentioned, NAM 1 topped the chart for his Menzgold non-payment saga.

The business mogul’s nerve has been touched with the demands as he was forced to react.

He took to Twitter to say he is not a criminal like he has been labeled, adding that until he is proven guilty, Ghanaians should get off his case.

He also reminded his accusers that he had been charged and acquitted for similar charges in the States before adding that history will repeat itself.

For the unbelieving lot, a charged NAM 1 said his grandmother isn’t the judge for which he would have been given undeserved pardon.

]]> Nam 1 reacts to Ghana’s Grammy drought https://www.adomonline.com/nam-1-reacts-to-ghanas-grammy-drought/ Mon, 15 Mar 2021 19:07:41 +0000 https://www.adomonline.com/?p=1933782 Chief Executive Officer of defunct gold dealership firm, Menzgold, Nana Appiah Mensah (NAM1) is not surprised no Ghanaian artiste won a Grammy.

He blamed the development on the politicisation of the creative arts sector in Ghana.

NAM 1, who also owns Zylofon Media, tweeted in support of a concern raised by dancehall artiste, Stonebwoy over their inability to win Grammy Awards like their Nigerian counterparts.

“Where the throat of vision, creativity, and innovation are cruelly slashed on the altar of partisan politics,” NAM 1 wrote on Twitter.

He commended Nigerian acts, Wizkid and Burna Boy for making Africa proud.

]]> Court warns prosecution over NAM1 https://www.adomonline.com/court-warns-prosecution-over-nam1/ Tue, 02 Mar 2021 17:09:16 +0000 https://www.adomonline.com/?p=1927105 The Circuit Court in Accra, presided over by Her Honour, Evelyn Asamoah, has warned it would be forced to strike out the case in which Chief Executive officer (CEO) of Menzgold Ghana Limited Nana Appiah Mensah (NAM1) has been arraigned for defrauding.

The court was unhappy about the delay on the part of the prosecution to file the necessary documents for trial to commence.

In court on Tuesday, March 2, the prosecutor, Assistant Superintendent of Police (ASP) Sylvester Asare again prayed the court to give them more time be to able to file their witness statement and other documents.

It was the case of the prosecution that the number of victims involved in the case was over 16, 000 people and therefore more time would be required by the prosecution to do the necessary investigations.

ASP Asare prayed the court for time and begged the court not to strike out the case.

EIB Network’s Court Correspondent, Murtala Inusah, reported that NAM1 was present in court. The case was adjourned to April 1, 2021.

At the last court date, the prosecution, led by ASP Asare, said investigations were ongoing so he wanted to take a date.

The defence did not raise any objection and the court adjourned the case.

On October 1, 2020, ASP Asare told the court that the prosecution was hopeful the trial will commence this legal year.

According to ASP Asare: “the instruction from our solicitors is that they are working hard to forward their advice to the court.”

He told the court that “as we begin the legal year, this matter will be commenced” before praying the court to grant them an adjournment.

While acknowledging that the prosecution appears to “always come here with one story or the other” ASP Asare prayed the court to “indulge us,” over the delay.

NAMI was initially charged with abetment of crime, defrauding by false pretences, carrying on a deposit-taking business without a licence, sale of minerals without a licence, unlawful deposit-taking, and money laundering.

It is alleged that the accused had taken over GH¢1.6 billion from customers.

Background

The State had previously on June 24, 2020, filed new charges against the CEO of Menzgold, also known as NAM 1 at the Accra Circuit Court.

ASP Asare then told the Court that his directives were that he should hold on to the new charges and the plea taking of the accused.

On July 20 2020, ASP Asare told the court that, they were seriously working to advise the court on the matter.

He said when the advice is ready they will issue hearing notice to the accused persons to appear before the court to do the needful.

Bail

The Circuit Court on July 26, 2019, granted NAM 1 bail in the sum of GH¢1 billion cedis with five sureties, three to be justified.

He had pleaded not guilty to all initial 13 charges levelled against him by the State. The state had since amended its charged sheet which is yet to be moved.

He is also to report to the police every Wednesday at 10:00 am.

]]> NAM 1 writes to Akufo-Addo, Mahama https://www.adomonline.com/nam-1-writes-to-akufo-addo-mahama/ Sat, 12 Dec 2020 11:37:57 +0000 https://www.adomonline.com/?p=1892865 The Chief Executive Officer of defunct gold dealership firm, Menzgold, Nana Appiah Mensah (NAM 1), has congratulated President Nana Akufo-Addo on his re-election.

 He has also consoled former President John Mahama over his loss in the 2020 presidential election.

President Akufo-Addo won a second term in office in a tightly contested presidential election on Monday, December 7, 2020.

He polled 6,730, 587 which is 51.30% of the total votes cast nationwide while his major contender Mr Mahama polled 6, 213, 182 which gives him 47.35%.

RELATED:

Taking to Twitter, NAM 1 praised President Akufo-Addo for a well-merited election.

To the NDC and Mr Mahama, he acknowledged they gave exemplary accounts of themselves.

Read NAM 1’s tweet below:

]]> More controversies on NAM 1’s Menzgold land settlement proposal [Listen] https://www.adomonline.com/more-controversies-on-nam-1s-menzgold-land-settlement-proposal-listen/ Wed, 18 Nov 2020 18:46:50 +0000 https://www.adomonline.com/?p=1882288

More controversies have engulfed the proposal by Menzgold owner, Nana Appiah Mensah, popularly known as NAM 1 to settle clients of embattled gold firm with parcel of lands.

The aggrieved customers have outrightly rejected his offer on suspicion it is another scam.

“We were told that his assets and bank accounts have been frozen, so where did he get money to purchase lands and be trading?” A spokesperson for Menzgold customers asked JoyNews.

Apart from the rejection, some estate developers and indigenes of the area have also popped up, laying claims to the land.

A spokesperson for Aduana Ablazde Family on land issues, Rev. Amoako Atta, told Adom News the family has not sold any land to NAM 1, and he issuing it as payment comes as a surprise to them.

“NAM 1 has never approached the family for any land, all we saw was they were grading the land so we reported to Ayi Mensah Police and also property fraud, where the case is currently under investigation,” he said.

Meanwhile, spokesperson for the aggrieved Menzgold customers, Timothy Binob, says his colleagues insist they want full monetary payment.

]]> NAM 1’s case adjourned to November 4 https://www.adomonline.com/nam-1s-case-adjourned-to-november-4/ Thu, 01 Oct 2020 19:05:27 +0000 https://www.adomonline.com/?p=1862249 The Prosecution on Thursday, again asked for further adjournment in the case involving the Chief Executive Officer of Menzgold, Nana Appiah Mensah, also known as “NAM 1”.

Assistant Superintendent of Police (ASP) Sylvester Asare told the Accra Circuit Court presided over by Ms Ellen Asamoah that the prosecution was still waiting for advice from the Attorney-General’s Department.

Currently, there are about 16,000 complaints in the matter.

At the last court sitting, the Judge adjourned the matter at the instance of the prosecution.

When the case was called on Tuesday, June 23, 2020, the State filed new charges against NAM 1.

It, therefore, asked the Court not to take his plea as there would be further instructions.

The Circuit Court on July 26, last year granted him bail in the sum of GH¢1 billion with five sureties, three to be justified.

He had pleaded not guilty to all charges levelled against him by the State initially.NAM 1 was initially charged with abetment of crime, defrauding by false pretences, carrying on a deposit-taking business without licence, sale of minerals without licence, unlawful deposit taking, and money laundering.

He had reportedly taken various sums of money, totaling GH¢1.6 billion from customers.

]]> NAM 1 reacts to fake UN awards https://www.adomonline.com/nam-1-reacts-to-fake-un-awards/ Mon, 07 Sep 2020 13:58:08 +0000 https://www.adomonline.com/?p=1850602 Chief Executive Officer of defunct gold dealership firm, Menzgold has reacted to the United Nations (UN) award scam.

Nana Appiah Mensah, popularly known as NAM 1, is angry people are comparing him to the organiser, Kwame Fordjour.

Over 20 popular personalities, including top government officials, rappers and media personalities, fell for the fake UN award.

The award, under the auspices of Global Blueprint Excellence Award, according to the organiser, Kwame Fordjour, is in collaboration with the UN and Kofi Annan Foundation.

ALSO READ:

However, it turned out to be palpable false with the UN issuing an official statement on it.

There has been many memes and photo grids of both NAM1 and ‘Dr UN’ which sought to suggest that the two men were in the same league.

But a livid NAM 1, in a Tweet, could not fathom why people will drag him into such an issue.

See tweet below:

]]> NAM 1 wins big award https://www.adomonline.com/nam-1-wins-big-award/ Tue, 01 Sep 2020 12:32:27 +0000 https://www.adomonline.com/?p=1848162 Founder of Zylofon Group of Companies, Nana Appiah Mensah, popularly known as NAM 1 has been recognized for his immense support in Ghana’s business sphere.

Blackstar line Cooperative Credit Union, in conjunction with the Marcus Garvey Foundation presented two award plaques to NAM 1 for his contribution to Business Development with his list of entities.

‘Men who are in earnest are not afraid of consequences’ was the inscription on the plaques designed in the form of African Map.

nana appiah mensah awards

NAM 1 has been eulogised for making efforts in uniting the African front and instituting practical socio-economic cooperation that would in turn provide jobs for majority.

With over five institutions under the umbrella entity, the awardees believe NAM 1 has with great zeal prospered despite the changing scenes and his defunct gold hub, Menzgold.

Blackstar Line is an entity set up with the aim of fostering wealth creation within the Pan African Community in Ghana and the Diaspora by promoting savings.

Started 11 years ago, the corporation seeks to empower Africans to emancipate themselves from the economic slavery imposed on them by Western nationals.

]]> NAM 1’s new signee in ‘trouble’ https://www.adomonline.com/nam-1s-new-signee-in-trouble/ Tue, 04 Aug 2020 14:45:30 +0000 https://www.adomonline.com/?p=1836047 Zylofon Music, a subsidiary of Nana Appiah Mensah’s (NAM 1) Zylofon Group of Companies’, new signee, Tisha is currently having her fair share of trolls.

The trolls follow a grammatical error she made on twitter Tuesday morning, which is causing her to trend massively.

The singer took to Twitter to declare herself as the real queen of Ghana music, adding she is back to take her throne.

ALSO READ:

However, instead of throne, she wrote ‘thrown’, an error which has set tongues wagging.

Tweeps, who are currently enjoying part of the submission, have in various ways mocked her over the error.

Read some tweets below:

]]> NAM 1 case adjourned to September 7 https://www.adomonline.com/nam-1-case-adjourned-to-september-7/ Mon, 20 Jul 2020 18:44:03 +0000 https://www.adomonline.com/?p=1829598 The team prosecuting Chief Executive Officer of defunct Menzgold, Nana Appiah Mensah, also known as NAM 1, says it is still waiting for advice from the Attorney-General’s Department towards the commencement of the trial.

Assistant Superintendent of Police (ASP) Sylvester Asare, told an Accra Circuit Court, presided over by Ellen Asamoah, that the advice would enable them to proceed on the matter.

“When the advice is ready, we will issue a hearing notice to the accused person to appear,” he said.

The Court, consequently, adjourned the case to Monday, September 07, at the request of the Prosecution.

When the case was last called on Tuesday, June 23, the State filed new charges against NAM 1.

It, therefore, asked the Court not to take his plea as there would be further instructions.

NAM 1’s lawyers have, however, pleaded with the Court to expedite the process for their client.

NAM 1, with some of his some of his family members, who are at large, is currently facing 63 counts for money laundering, stealing and taking deposits without authority.

The Circuit Court on July 26, last year granted him bail in the sum of one billion cedis with five sureties, three to be justified.

He had pleaded not guilty to all initial 13 charges levelled against him by the State.

NAM 1 was initially charged with abetment of crime, defrauding by false pretences, carrying on a deposit-taking business without licence, sale of minerals without licence, unlawful deposit taking, and money laundering.

He has reportedly taken various sums of money, totalling GHC1.6 billion from customers.

]]> NAM 1’s new signee reveals why she was given Limousine https://www.adomonline.com/nam-1s-new-signee-reveals-why-she-was-given-limousine/ Wed, 08 Jul 2020 10:18:05 +0000 https://www.adomonline.com/?p=1823726 Zylofon Music, a subsidiary of Nana Appiah Mensah’s (NAM 1) Zylofon Group of Companies, has signed a new artiste unto the record label.

As part of her welcome package, Tisha was presented with a Limousine to aid her daily movement; the very first signee to receive such a package.

The gesture has raised eyebrows among some Ghanaians and creditors who are yet to receive their monies from the defunct gold hub, Menzgold.

Responding to critics, Tisha said she is a great artiste and deserves everything the record label is doing for her, adding it is no big deal since anyone in her shoes would want such a treatment.

ALSO READ

When asked why other great artistes previously signed unto the label did not receive such, Tisha explained she is simply unique and it is a part of her branding process.

“I feel great because I am a great artiste so I really feel great about that (Limousine gift). I am not Kumi Guitar, I am not Becca…we’re all different individuals and I am unique so seeing this and not seeing it for others, I don’t think it’s a big deal”, she told Sammy Kay Media.

]]> NAM 1 in fresh trouble! https://www.adomonline.com/nam-1-in-fresh-trouble/ Tue, 23 Jun 2020 21:28:09 +0000 https://www.adomonline.com/?p=1816350 The State on Tuesday filed new charges against the Chief Executive Officer of Menzgold, Nana Appiah Mensah, is also known as NAM 1 at the Accra Circuit Court.

Assistant Superintendent of Police (ASP), Sylvester Asare, told the Court that the State had filed a new charge-sheet against the accused but his directives were that he should hold on to it and also the plea taking of the accused.

“We, therefore, plead with the court not to take his plea as there will be further instructions l need to adhere to going forward,” he said.

The Court, presided over by Ms Ellen Asamoah, granted the request of the prosecution.

ALSO READ:

NAM 1 is facing 63 counts of money laundering, stealing, taking deposits without authority with other family members now at large.

His lawyers were not opposed to the new charge sheet but pleaded with the Court to expedite the process for their client. There was a heavy security presence when NAM 1 appeared in Court.

The Circuit Court on July 26, 2019, granted NAM 1 bail in the sum of GH¢ 1 billion cedis with five sureties, three to be justified. He had pleaded not guilty to all initial 13 charges levelled against him by the State.

He is also to report to the police every Wednesday at 10:00 hours. He was initially charged with abetment of crime, defrauding by false pretences, carrying on a deposit-taking business without a licence, sale of minerals without a licence, unlawful deposit-taking, and money laundering.

The court adjourned the trial to Monday, July 20.

]]> NAM 1 blames residence invasion on political parties https://www.adomonline.com/nam-1-blames-residence-invasion-on-political-parties/ Thu, 09 Jan 2020 13:48:04 +0000 https://www.adomonline.com/?p=1739384 The Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah (NAM 1), has reacted to the invasion of his residence on Wednesday by some aggrieved customers of the company.

About 200 of the aggrieved customers from Accra, Kumasi and other parts of the country, who massed themselves in a VIP bus, raided NAM 1’s residence at Trassacco in Accra to demand their monies.

READ ON

Reacting to the incident on Instagram, NAM 1, who described the situation as unfortunate, added that the incident was instigated by political parties.

The embattled gold dealer also admitted: “We are dealing with a commercial challenge and we’re very resolute, committed and focused to overcome.”

]]> NAM1 allegedly defrauded 16,000 customers of ¢1.68bn https://www.adomonline.com/nam1-allegedly-defrauded-16000-customers-of-%c2%a21-68bn/ Fri, 12 Jul 2019 11:42:47 +0000 https://www.adomonline.com/?p=1683846 Chief Executive of defunct gold dealership firm Menzgold, Nana Appiah Mensah has been dragged to court for allegedly defrauding 16,000 customers of more than 1.68 billion cedis.

The alleged fraud occurred within a 20-month period between January 2017 and September 2018, JoyNews has learnt from court documents filed by the state.

The businessman and socialite was charged in court Friday after finally returning to Ghana Thursday. He had spent more than six months in Dubai after absconding in January.

ALSO: Drop charges against NAM 1, we want our money – Lawyer to police (Audio)

Popularly called NAM1, he was declared as one of Ghana’s most wanted appeared in court briefly as the Attorney-General slapped him with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without license contrary to section 6(1) of the banks and specialized deposit-taking institutions Act, 2016 (Act 930).

Nana Appiah Mensah is also representing his two companies, Brew Marketing Consult and Menzgold Ghana Limited, which 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).

ALSO: Audio: NAM 1 has returned with our money – Menzgold customers jubilate

Also facing the law are his sister and wife respectively Benedicta Appiah and Rose Tetteh 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 licence contrary to section 6(1) of Act 930. 

The two women are however at large.

The charge sheet states that between January 2017 and September 2018, Brew Marketing Consult and Menzgold defrauded one Francis Agodzie and 16,000 others of more than 1.68billion.  His wife and sister are said to have aided Menzgold to carry out the act.

Source: Ghana|Joy News|Joseph Ackah-Blay

]]> Shatta’s message to NAM 1 on his return to Ghana https://www.adomonline.com/shattas-message-to-nam-1-on-his-return-to-ghana/ Thu, 11 Jul 2019 14:37:06 +0000 https://www.adomonline.com/?p=1683553 Dancehall act Charles Nii Armagh Mensah has taken to his Facebook page to officially welcome Nana Appiah Mensah back to Ghana.

The embattled Chief Executive Officer (CEO) of Menzgold had been battling with Dubai courts for some months now after he was alleged to have been engaged in a gold deal which went wrong.

Reports suggested he won the case and has taken the next flight to Ghana and Shatta Wale is among the few first celebs to welcome him home.

On his Facebook page, Shatta Wale said, “Welcome Home My Boss NAM1 ??”

Adomonline.com broke the news of NAM 1’s return. Nana Appiah is currently at the CID Headquarters where he is going through some formalities.

Below is the facebook post:

Source: Adomonline.com|Dennis Kofi Adu

]]> Video: I still stand by NAM1 – Stonebwoy https://www.adomonline.com/video-i-still-stand-by-nam1-stonebwoy/ Thu, 21 Feb 2019 14:15:42 +0000 http://35.232.176.128/ghana-news/?p=1655011

Dancehall act, Stonebwoy says he still believes in the dream of Menzgold’s Chief Executive Officer, Nana Appiah Mensah popularly known as NAM1.

According to him, amidst the misconceptions that NAM1 is a fraud due to the collapse of his gold dealership firm, he still stands by him as a man of truth and honour.

“NAM1 is a good man and i still stand by him… I got issues with Zylofon but I still stayed. My contract is almost ending in 2 months. The best for me now is to find my path and I will support NAM1 any day.”

ALSO SEE: Video: Menzgold customers aren’t greedy – Stonebwoy

Stonebwoy is set to host an ‘Independence Day Concert’ on his Birthday, March 5. The concert is slated to take place at the Labadi Beach Hotel.

ALSO SEE: Video: I have 2 months to leave Zylofon Media – Stonebwoy reveals

Watch the video above.

]]> NAM1 to make third appearance in Dubai court on Valentine’s Day https://www.adomonline.com/nam1-to-make-third-appearance-in-dubai-court-on-valentines-day-2__trashed/ Tue, 12 Feb 2019 06:04:36 +0000 http://35.232.176.128/ghana-news/?p=1638351 Nana Appiah Mensah (NAM1), Chief Executive Officer (CEO) of the troubled gold dealership company, Menzgold, will make his third court appearance in Dubai on Thursday, February 14, where he is facing a misdemeanour charge over a US$23 million deal, gone bad.

He is currently being held on remand at the Al Barsha police cell.

READ: Video: Anokye Supremo’s body arrives in Accra

The criminal charge of misdemeanour in Dubai is equivalent to a Second Degree Felony in Ghana and if found guilty he could spend up to two years in prison.

A source familiar with the United Arab Emirates (UAE) justice system told the Ghana News Agency (GNA) he could also face civil charges from the complainant, who is seeking to retrieve 23 million dollars and his failure to pay that money could earn him an additional three-year jail term.

Back home the Economic and Organised Crime Organisation (EOCO), has frozen the properties of Menzgold and its associated companies.

READ: Audio: Why we petitioned party over printing of ballot, voters’ register – Spio

Menzgold is holding up the investments of thousands of customers, who have since September, last year, been unable to access both their interests and principal.

A Dubai-based business man reported Nana Appiah and eight of his business partners, to the Dubai Police for fraud in May 2018.

Their names were, consequently, put on the UAE’s Police list of Wanted People on May 24, 2018.

READ: CID officer helped me break jail; ‘Kidnapper’ of Takoradi girls reveals

Unaware of this, Nana Appiah responded to an invitation from the complainant to Dubai, but on his arrival, on Friday, December 7, he was arrested at the airport when he presented his passport for immigration formalities.

He was first sent to court on Wednesday, January, 30.

The news of Nana Appiah’s arrest in Dubai came to light after the Criminal Investigations Department of the Ghana Police Service secured a warrant of arrest from an Accra Circuit court on Wednesday, January 9, for his arrest on charges of defrauding by false pretences and money laundering.

This was preceded by media reports that he had violated the terms of the bail granted by the Bureau of National Investigations, which was investigating him and he could not be traced.

Meanwhile, some of Nana Appiah’s anguished customers had brought up a case against him in court over the inability of Menzgold to pay their returns or principal, since September 2018.

The company was paying between seven and 10 per cent in monthly interest rates on investments, but both the Bank of Ghana and the Security and the Exchanges Commission (SEC) warned Ghanaians over the risk of their investments, likening it to a Ponzi scheme.

The SEC, subsequently, directed Menzgold to stop receiving deposits, amidst protests from both the company and its customers.

According to EOCO, though it was also investigating Menzgold for a possible breach of the Banks and Specialised Deposit-Taking Institution Act, 2016, (Act 930) as reported to it by the Bank of Ghana (BoG), there was a lack of cooperation on the side of its boss.

A fact-finding delegation sent by the Government, reported that the Emirati authorities would make Nana Appiah available to their Ghanaian counterparts upon the final determination of his case.

A joint EOCO and Ghana Police statement, issued after the visit on Friday, January on 18, said he cooperated with the delegation and provided the security and legal officers an extensive statement to assist in their investigations into the Menzgold saga for the requisite action to be taken.

The statement, jointly signed by Assistant Commissioner of Police (ACP) David Eklu, the Director-General of the Public Affairs Directorate of the Ghana Police Service and Mr Abu Issah, acting Head of the Legal and Prosecution outfit of EOCO, pledged the resolve of the two bodies to continue their investigations and processes to bring a resolution to the matter.

]]> Full list: NAM 1’s properties identified by EOCO https://www.adomonline.com/full-list-nam-1s-properties-identified-by-eoco/ Tue, 29 Jan 2019 14:59:32 +0000 http://35.232.176.128/ghana-news/?p=1617771 Properties of embattled businessman and Chief Executive Officer of gold firm Menzgold, Nana Appiah Mensah, popularly known as NAM 1, have been identified.

The listed properties include Landed Properties and Vehicles of Menzgold Ghana Limited, Menzgold Office Complex, Zylofon Art Complex, Brew Marketing Consult, Star Madrid Football Club, Zylofon Music and Media Company Limited, Brew Energy Company Limited as well as G-Tech Automobile Service.

READ ALSO: EOCO secures court order to freeze assets of NAM 1

This news of the identified properties is contained in a statement signed by Head of Public Affairs Unit, Jacquline Avotri at the Economic and Organised Crime Office (EOCO) in Accra Tuesday.

The statement was released after it secured a court order confirming the freezing of assets of Menzgold and other related businesses of NAM 1.

The rest of the properties are two (2) properties located at Trassaco Valley (Plot No. 315 and Plot No. 337), Plot of land (No. 54) near Oak Street- Trassaco Valley, Uncompleted Residence and 510 acres of land.

READ ALSO: NDC to reward hardworking members after 2020 victory – Mahama

EOCO in its statement urged family and friends of the wanted fugitive as well as associates in possession of such properties to submit same to their outfit, in their own interest.

“By this news release, all employees of the affected companies, relatives and friends who are in possession of any of such properties are to surrender same by the authority of the high court to the Economic and Organized Crime Head Office and Regional Offices in their own interest,” the statement demanded.

READ ALSO: Ken Agyapong hauled before Privileges Committee

The statement warns that “Failure to do so will constitute contempt of court which will attract the appropriate sanctions.”

Below is the full statement

NAM 1 who was arrested in the UAE in December 2018, for allegedly defrauding a business partner, has been declared a wanted man by a Circuit Court in Accra.

It follows similar accusations by some 60,000 persons who invested in his Menzgold firm, which has been described as experts as a Ponzi scheme.

The investors were promised a 10% returns per month on their gold deposits, however, ever since the Securities and Exchange Commission (SEC) ordered a shutdown of the non-regulated aspect of the business, Menzgold has defaulted in paying the returns and also failed to pay the initial deposits.

]]> Govt delegation returns to Ghana without NAM 1 https://www.adomonline.com/govt-delegation-returns-to-ghana-without-nam-1/ https://www.adomonline.com/govt-delegation-returns-to-ghana-without-nam-1/#comments Fri, 18 Jan 2019 16:01:50 +0000 http://35.232.176.128/ghana-news/?p=1600661 Information reaching Adomonline.com suggests that, government delegation who went to Dubai to trigger extradition processes for embattled businessman, Nana Appiah Mensah failed in their mission.

READ: V/P Police accused of “ganja” farming in Alavanyo

According to Ekosii Sen host, Osei Bonsu, the delegation including Deputy Attorney General, Joseph Dindiok Kpemka, a representative from the Economic Organised Crime Office (EOCO), the Bureau of National Investigation (BNI) and National Security could not secure a release of NAM 1 as he popularly called.

He noted that the delegation could not reach an agreement with Dubai authorities in their quest to Ghana’s most wanted NAM 1.

READ: Video: Gov’t delegation mourns with late Ahmed’s family

Osei Bonsu added that, the delegation is expected to brief President Akufo-Addo on the outcome of their trip.

Nana Appiah Mensah, popularly known as NAM1, is wanted for defrauding by false pretense and an allegation of money laundering after his company failed to pay customers investments.

READ: Audio: Murder of GPHA PR Manager: Houseboy’s mother cries for lawyer

He has been arrested in the United Arab Emirates (UAE) capital on December 7 after “a gold deal gone wrong.”

Government is hoping to bring him back to Ghana to face the full rigorous of the law.

]]> https://www.adomonline.com/govt-delegation-returns-to-ghana-without-nam-1/feed/ 1 Breaking: NAM 1 returns home tomorrow https://www.adomonline.com/breaking-nam-1-returns-home-tomorrow/ https://www.adomonline.com/breaking-nam-1-returns-home-tomorrow/#comments Wed, 16 Jan 2019 15:21:45 +0000 http://35.232.176.128/ghana-news/?p=1596791 Information available to Adomonline.com indicates that, embattled businessman, Nana Appiah Mensah popularly known as NAM 1 will be brought back to Ghana on Thursday, January 17, 2019.

READ: Akufo-Addo’s endorsement of NAM 1 enhanced his credibility – NDC

According to sources, the government delegation in Dubai have reached an agreement with the Emirate authorities for his release.

A high powered government delegation went to Dubai to press for the extradition of Chief Executive Officer of Menzgold, NAM 1.

READ: VIDEO: Akufo-Addo commends Unilever Ghana

The delegation includes Deputy Attorney General, Joseph Dindiok Kpemka, a representative from the Economic Organised Crime Office (EOCO), the Bureau of National Investigation (BNI) and National Security.

This was after it emerged that, he has already been arrested in the United Arab Emirates (UAE) capital on December 7 after “a gold deal gone wrong.”

Nana Appiah Mensah is also wanted for defrauding by false pretense and an allegation of money laundering after his company failed to pay customers investments.

READ: Sanitation Minister fires market women; sub-metro over poor sanitation

Therefore aggrieved customers can now heave a sigh of relief after the source in Dubai told Ekosii Sen host, Osei Bonsu government has been able to strike a deal with the government of the Emirates to bring NAM 1 to Ghana to face justice.

]]> https://www.adomonline.com/breaking-nam-1-returns-home-tomorrow/feed/ 2 VIDEO: Zylofon CEO must aspire to be President – Akoo Nana https://www.adomonline.com/video-zylofon-ceo-must-aspire-to-be-president-akoo-nana/ Fri, 27 Apr 2018 14:20:08 +0000 http://35.232.176.128/ghana-news/?p=1085011  

Highlife artiste, William Ato Ankrah known by stage name, Akoo Nana, has called on the CEO of Zylofon Media, Nana Appiah Mensah to start dreaming of becoming Ghana’s president in the near future.
He made this revelation in an interview with Adomonline’s Dennis Adu on Thursday.
According to him, Nana Appiah Mensah (NAM 1) has created a lot of avenues in the creative industry which is supporting the players in the industry to boost their careers effectively.
He therefore is of the opinion that if NAM 1 veers into politics, he will be able to improve upon the living standards of Ghanaians.
SEE MORE: Sarkodie is an illiterate arrogant douchebag – Chris-Vincent Agyapong
“He has brought light into the entertainment industry. He is signing artistes, building theatres, and other avenues to generate income for industry players. He is a business man and I see him as the youngest president. If he should go into politics there is a lot he can do to transform the country….” Akoo said.
Asked if he would be disappointed should Nana Appiah discard the idea, Akoo said “we will push him to be. I will do it personally. I will tell people around him that he has the tendency to become it…” he said.
ALSO SEE: PHOTOS: Rapper Yaa Pono ties the knot with girlfriend
Akoo Nana said the political strategies don’t matter at all arguing that all he cares about is the CEO of Zylofon becoming president of the country.
“I see him to be a president of Ghana one day, anyhow I support it. Music is business. I see him as a very smart person. We need smart people to build the country…” he said.

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