Accra High Court Dismisses NAM 1’s ‘Submission of No Case’
The Accra High Court has dismissed a ‘submission of no case’ filed by Nana Appiah Mensah, also known as NAM 1, the founder of the defunct Menzgold company. NAM 1 and Menzgold are on trial for allegedly defrauding the public of approximately GHC340 million during Menzgold’s operations, which purportedly involved gold buying.
Court’s Ruling
In a comprehensive ruling spanning nearly 110 pages, Justice Ernest Owusu-Dapaah presided over the case and determined that the prosecution had established a prima facie case against the accused, warranting him to open his defense. The judge stated, “Accused persons are hereby called upon to enter their defense. However, they have the right to testify or not.”
Background
Nana Appiah Mensah, through Menzgold, is accused of orchestrating a Ponzi scheme that defrauded many Ghanaians, resulting in significant financial losses and tragic consequences, including loss of lives. The case has drawn substantial public attention due to the scale of the alleged fraud and its impact on numerous investors.
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