The Attorney General’s Department has filed fresh charges against the Chief Executive Officer (CEO) of defunct gold dealership firm Menzgold Ghana Limited, Nana Appiah Mensah, popularly known as NAM1.
The fresh charges of 39 counts in total were filed at the Accra High Court on Wednesday, August 30.
Aside NAM1 and Menzgold, his other defunct firm Brew Marketing Consult was added to the suit.
Among the offences, the defendants have been accused of defrauding by false pretence contrary to Section 131(1) of the Criminal Offences Act, 1960 (Act 29).
NAM1 and his companies obtained the consent of some individuals between 2016 and 2018 with the intent to defraud, parting with millions of Ghana Cedis.
He was first arrested in 2019 after activities of his company came to the knowledge of the Securities and Exchange Commission (SEC) in 2018.
He faced trial at an Accra Circuit Court, where he was granted bail.
There have been recent reports that he was taking deposits from some customers, promising to pay them their locked-up funds.
This was seen as flying in the face of law as the state was criticised for allowing him to walk free and continue his fraudulent activities.
The Executive Director of the Economic and Organised Crime Office (EOCO), COP Maame Yaa Tiwaa Addo-Danquah, in 2022 said it was difficult gathering evidence against NAM1.
But the Attorney General and Minister of Justice, Godfred Yeboah Dame, promised filing a new docket on the case.
On Wednesday, August 30, his department proceeded to file a 16-page document.
According to the brief facts of the writ, after several warning from authorities, over 16,000 people deposited huge sums of money with Menzgold and Brew Marketing Consult.
They, however, started facing challenges due to delayed payments or reduced dividends.
“Between November 2016 and March 2019, many customers of the accused persons petitioned the police complaining that they had invested huge sums of money with the accused persons but were unable to realise their investments after persistent efforts by them.
“Investigations revealed that the accused persons under false pretences took a total sum of One billion, sixty hundred and eighty million, nine hundred and twenty thousand Ghana Cedis (GH¢1,680,920,000) from their customers which these customers have not recovered.”
Already, some property belonging to NAM1 and his companies have been auctioned “and the proceeds kept in an exhibit account”.