NAM1 addresses media today

The Chief Executive Officer of the now-defunct gold-trading firm Menzgold Ghana Limited, Nana Appiah Mensah, popularly known as NAM1 will address the media today, Monday, 19 August 2019.

Mr Mensah was recently granted bail by the court in Ghana following his return to Ghana from Dubai where he had been in custody for about nine months.

NAM1 is facing 13 counts of defrauding by false pretences, money laundering, abetment and carrying on deposit-taking business without licence contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act.

He arrived in Ghana on 11 July 2019 and was immediately picked up by the Criminal Investigations Department of the Ghana Police Service.

NAM1 has been accused of defrauding his customers of about GHS1.68 billion.

According to the charge sheet, the money was from 16,000 people who invested a total of GHS1,680,920,000 in the company.