High Court dismisses NAM1's submission of 'no case', orders him to open defence

In a significant legal development, an Accra High Court has dismissed a submission of no case filed by Nana Appiah Mensah, also known as NAM1, the CEO of the defunct gold dealership firm, Menzgold. The court, presided over by Justice Ernest Owusu-Dapaah, has ruled that the CEO of Brew Marketing Consul, the now-defunct gold dealership firm, and Menzgold must open their defence, stating that they have a case to answer.

NAM1 and his two companies, Brew Marketing Consult and Menzgold, face 39 counts of various offences. These charges include selling gold without a licence, operating a deposit-taking business, inducement to invest, defrauding by pretences, fraudulent breach of trust, and money laundering involving a sum of over GH?340 million.

The prosecution closed its case after calling nine witnesses. The court was required to rule on Thursday whether the prosecution had sufficiently made its case or if prima facie evidence had been established.

Under court rules, at the close of the prosecution's case, the court must provide a reasoned decision on whether the prosecution has led sufficient evidence against the accused. In its 110-page ruling, Justice Owusu-Dapaah first addressed whether Menzgold and NAM1 sold gold to anyone.

“The prosecution was able to establish that the accused were selling gold,” the court stated, adding that it had reviewed and accepted into evidence receipts showing that the accused sold gold to the public.

Regarding the sale of gold without a licence, the court found that neither NAM1 nor Menzgold was licensed to deal in gold under the Minerals and Mining Act. “The receipts tendered by the witnesses were not personal jewellery but real gold, and thus the accused did not have the licence to deal in gold in the manner they did. Brew Marketing Consult is unknown to the minerals commission to purchase gold. Based on the evidence presented, it appears that the accused persons did not possess a valid licence,” the court stated.

The court also ruled that a prima facie case had been made against the accused for operating a deposit-taking business without a licence under Act 930. It found that the accused were carrying on a deposit-taking business without a licence.

On the charge of inducing the public to invest funds exceeding GH?340 million, the court found that the prosecution had established a prima facie case against the accused, concluding that the accused have a case to answer. Similarly, the court determined that the accused have a case to answer regarding the charge of defrauding Ghanaians by pretences.

This ruling marks a critical juncture in the high-profile case, setting the stage for NAM1 and his companies to present their defence against the extensive charges levelled against them.

Read Full Story