NAM1

NAM1 Still In Police Custody

The CEO of Menzgold Ghana Limited, Nana Appiah Mensah, popularly known as NAM1, has been denied bail and is still in Police custody.

NAM1
MenzGold CEO NAM1. (Credit: Zylofon Media)
ARRIVAL AND ARREST OF NAM1

The embattled businessman was picked up by security personnel from Interpol Ghana and the Bureau of National Investigations (BNI) after he arrived in the country from Dubai on Thursday.

He was immediately sent to the Criminal Investigations Department (CID) of the Ghana Police Service for interrogation.

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According to sources, the Police have denied NAM1 bail and he is likely to be arraigned before court today, Friday.

He has been charged with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without licence, contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).

Two of his companies Brew Marketing Consult and Menzgold Ghana Limited — represented by him, have each been charged with defrauding by false pretense, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29).

The two companies have also been charged with carrying out a deposit-taking business without license, contrary to Section 6 (1) of Act 930.

The embattled Menzgold CEO remained a wanted man in Ghana after a warrant was issued for his arrest in January.

This followed the inability of Menzgold to make refunds to aggrieved customers whose investments remain locked up with the gold dealership firm.

There have also been numerous protests and demonstrations from customers who want the government to intervene to retrieve their investments.

Are you a customer with MenzGold? Will his return guarantee that customers get their monies back. Leave us a comment.

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