NAM1 could be freed - Judge warns

Her Honour Evelyn Mensah, a presiding judge at the Accra Circuit Court, has warned that the CEO of the defunct Menzgold could soon walk free due to a lack of progress in his trial.

Nana Appiah Mensah, popularly known as NAM1 is currently facing 16 charges, including money laundering, unlawful deposit taking and sale of minerals.

However, the embattled businessman could see all the charges struck out of court due to a lack of progress.

This comes after the court had to once again postpone a hearing of the case after the prosecution, led by ASP Sylvester Asare, asked for more time to work on the docket of the case.

Starrfm.com.gh reports that the court did not take it lightly with the prosecution’s reason for the case to be adjourned.

The court further warned that it would be the last time such an excuse would be entertained and that the accused would be freed if they fail to come with anything substantial at the next adjourned date.

The presiding judge then adjourned the case to April 7, 2020.

Menzgold has been in the news in recent months following the company’s troubles with state regulatory bodies over its operations.

The Central Bank and Minerals Commission maintain that the company has been taking deposits and locally selling gold despite not having the requisite license to do.

However, the seriousness of the issue was confirmed in September 2018 when the Securities and Exchange Commission (SEC) directed the gold dealership firm to shut down its gold trading activities.

Currently, the operations of the company remain closed to the public, with several customers agitating for a refund of their investments.