{"id":655750,"date":"2019-07-13T10:18:36","date_gmt":"2019-07-13T10:18:36","guid":{"rendered":"<br><div>\n\t\t\n<p><strong>Nana Appiah Mensah aka NAM 1 and his wife, Rose<\/strong><\/p>\n\n\n\n<p>An Accra Circuit Court yesterday remanded the embattled Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1, in police custody pending i"},"modified":"2019-07-13T10:18:36","modified_gmt":"2019-07-13T10:18:36","slug":"nam-1-wife-sister-charged-with-fraud","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/07\/13\/nam-1-wife-sister-charged-with-fraud\/","title":{"rendered":"NAM 1, Wife, Sister Charged With Fraud"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Nana Appiah Mensah aka NAM 1 and his wife, Rose<\/strong><\/p>\n<p>An Accra Circuit Court yesterday remanded the embattled Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1, in police custody pending investigations.<\/p>\n<p>The beleaguered businessman, who arrived<br \/>\nfrom Dubai on Thursday morning and was quickly apprehended by the police, was<br \/>\nyesterday hauled before the court which had issued a warrant for his arrest<br \/>\nwhen he was out of the country.<\/p>\n<p>NAM1 has been in jail in Dubai since<br \/>\nlast December and was brought to the country by Dubai Interpol and handed over<br \/>\nto its counterpart in Ghana.<\/p>\n<p>The troubled \u2018millionaire\u2019 has been<br \/>\naccused of defrauding some 16,000 customers over GH\u00a21.68 billion between January<br \/>\n2017 and September 2018 under false pretences.<\/p>\n<p>Charged alongside NAM1 is his wife, Rose<br \/>\nTetteh, including his sister, Benedicta Appiah; for aiding him in his alleged<br \/>\nfraudulent act.<\/p>\n<p><strong>Charges<\/strong><\/p>\n<p>NAM1 is facing a total of four counts relating<br \/>\nto fraud and operating without licence.<\/p>\n<p>He has been charged with two counts of<br \/>\nabetment to defraud by false pretence and two counts of abetment to carry out<br \/>\nbanking business without license contrary to section 6(1) of the banks and<br \/>\nspecialized deposit-taking institutions Act, 2016 (Act 930). <\/p>\n<p>Two of his companies \u2013 Brew Marketing<br \/>\nConsult and Menzgold Ghana Limited \u2013 represented by him have each been charged<br \/>\nwith defrauding by false pretence contrary to sections 20(1) and 13(1) of the<br \/>\ncriminal offences Act, 1960 (Act 29).<\/p>\n<p><strong>NAM1<br \/>\nAccomplices<\/strong><\/p>\n<p>Apart from NAM1, his sister and wife<br \/>\nhave also been slapped with two counts of abetment to defraud by false pretence<br \/>\nand two counts of abetment to carry out banking business without licence<br \/>\ncontrary to section 6(1) of Act 930. <\/p>\n<p>The two women who are said to have aided<br \/>\nMenzgold to carry out the fraudulent acts are still at large as their<br \/>\nwhereabouts still remain a mystery to the police.<\/p>\n<p><strong>Early<br \/>\nAppearance<\/strong><\/p>\n<p>NAM1 was virtually \u2018sneaked\u2019 into the<br \/>\ncourt yesterday by police officers \u201cfor security reasons.\u201d<\/p>\n<p>The police, the accused person and his<br \/>\nlawyers were on the premises of the court as early as 6am long before the gates<br \/>\nto the premises were even opened.<\/p>\n<p>He was then kept in the courtroom until<br \/>\naround 9am when the court commenced sittings. <\/p>\n<p>The security did not allow scores of<br \/>\njournalists who gathered to enter the courtroom where NAM1 was being tried and<br \/>\nwas immediately whisked away after the short proceedings.<\/p>\n<p><strong>Facts<\/strong><\/p>\n<p>Per the fact of the case as cited by <strong><em>DAILY<br \/>\nGUIDE<\/em>, <\/strong>the Criminal Investigations Department (CID) in October 2018<br \/>\nreceived a petition from 16,000 complainants that Menzgold through NAM1 and the<br \/>\nother accused persons urged them to deposit monies which would accrue a monthly<br \/>\ninterest of 10 per cent.<\/p>\n<p>According to the facts, the complainants<br \/>\ndeposited various sums of monies totaling GH\u00a21,680,920,000.<\/p>\n<p>It said Nana Appiah, Benedicta Appiah<br \/>\nand Rose Tetteh had absconded and their offices and residents were later<br \/>\nlocked. <\/p>\n<p>It said a warrant of arrest was issued<br \/>\nfor the arrest of the accused persons until NAM1 returned to Ghana last<br \/>\nThursday when he was arrested at the Kotoka International Airport.<\/p>\n<p><strong>Police<br \/>\nRequest<\/strong><\/p>\n<p>The prosecution, led by ASP Sylvester<br \/>\nAsare, told the court that they do not intend to take the plea of NAM1.<\/p>\n<p>According to him, the matter was still<br \/>\nunder investigations and prayed the court to remand the accused for them to do<br \/>\nthorough work.<\/p>\n<p>The court, presided over by Harriet<br \/>\nAkweley Quaye, remanded NAM1 in police custody to return to court on July 26,<br \/>\n2019.<\/p>\n<p><strong>Genesis<br \/>\n<\/strong><\/p>\n<p>The woes of Menzgold emerged on<br \/>\nSeptember 7, 2018, after the Securities and Exchange Commission (SEC) directed<br \/>\nit to suspend its gold trading operations with the public.<\/p>\n<p>The directive, according to SEC, was<br \/>\nbased on the \u2018fact\u2019 that Menzgold\u00a0had been dealing in the purchase and<br \/>\ndeposit of gold collectibles from the public and issuing contracts with guaranteed<br \/>\nreturns with clients without a valid licence from the commission.<br \/>The move,\u00a0SEC explained, was in contravention of \u201csection 109 of Act 929<br \/>\nwith consequences under section 2016 (I) of the same Act.\u201d<\/p>\n<p>The company was, however, allowed to continue its \u201cother businesses of assaying, purchasing gold from small-scale miners and export of gold.\u201d<\/p>\n<p><strong>By Gibril Abdul Razak<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nana Appiah Mensah aka NAM 1 and his wife, Rose An Accra Circuit Court yesterday remanded the embattled Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1, in police custody pending investigations. The beleaguered businessman, who arrived from Dubai on Thursday morning and was quickly apprehended by the police, was yesterday hauled [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":655751,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-655750","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NAM 1, Wife, Sister Charged With Fraud - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/07\/13\/nam-1-wife-sister-charged-with-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"NAM 1, Wife, Sister Charged With Fraud - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Nana Appiah Mensah aka NAM 1 and his wife, Rose An Accra Circuit Court yesterday remanded the embattled Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1, in police custody pending investigations. 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