Govt Is Shielding NAM1 Says Mahama

John Mahama

Former President John Dramani Mahama has made astonishing claims that the New Patriotic Party (NPP) administration is offering protection for Nana Appiah Mensah (aka NAM1), who is in court over the missing investments of customers in the infamous Menzgold Ghana Limited scandal.

He claimed in Tarkwa during his Western regional tour on Tuesday that “the person behind this scam is walking freely but the police is quick to go after the innocent customers who are demonstrating for their moneys,” adding, “This government knows the directors, and the owner of Menzgold so why are they walking freely? It is not right.”

He accused the police of brutalities, saying, “When the customers decide to demonstrate, they are beaten by the police and some arrested but by God’s grace, the NDC will come back to power.”

Mr. Mahama added, “The next NDC government will probe this Menzgold saga and those who took your moneys, we will take it from them and give it back to you. Every property they’ve hidden, we’ll look for them, confiscate them and refund your money.”

Menzgold customers have embarked on several protest actions since the company’s woes, dating back to September 7, 2017 started, and Mr. Mahama in the heat of the election is trying to cash in on the issue.

The company was closed down in 2018 following its legal battle with the Securities & Exchange Commission (SEC).

SEC described the deposit-taking business of Menzgold as illegal, ordering it to suspend its operations.

Court Trial

NAM1, his wife Rose Tetteh and his sister Benedicta Appiah, both of whom are at large, are altogether facing a total of 13 counts of defrauding by false pretences, money laundering, abetment and carrying on deposit-taking business without licence over the Menzgold saga.

The charges include six counts of defrauding by false pretences, abetment, money laundering and carrying on deposit-taking business without licence.

His companies—Menzgold Ghana Limited and Brew Marketing Consult Limited—have also been charged with seven counts of defrauding by false pretences, and carrying on deposit-taking business without licence.

NAM1, on July 26, pleaded not guilty to all the charges. The court presided over by Jane Harriet Akweley Quaye granted him bail to the tune of GH¢1 billion (about $185 million) with five sureties, three of which are to be justified.

Additionally, he was ordered by the court to report to the police every Wednesday.

Unable to satisfy the bail conditions, the defence team, led by Kwame Boafo Akuffo, later filed an application asking for variation of the terms.

However, the presiding judge, after listening to both sides, though maintained the sum of GH¢1 billion, removed the condition of three of the five sureties to be justified.

From Emmanuel Opoku, Tarkwa



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