Embattled CEO of bankrupt Menzgold, Nana Appiah Mensah, faced a major legal defeat as the Court of Appeal on Monday, May 19, rejected his request for a halt in the ongoing criminal trial against the businessman.
Nana Appiah Mensah, widely recognised as NAM1, along with his two firms, Brew Marketing Consult and Menzgold, has been indicted on 39 separate counts of multiple offences.
These charges include unlicensed gold sales, running a deposit-taking business, investment inducement, deceitful pretences, fraudulent breach of trust, and money laundering that involves over GH₵340 million.
Nam1 submitted his application for a stay at the Court of Appeal after the financial court had determined a prima facie case against him in the matter.
He submitted the stay of proceedings to the Court of Appeal while awaiting the outcome of another appeal at the same court contesting the High Court decision that required him to present his defence.
In 2024, the financial court instructed Nana Appiah Mensah to present his defense in the current criminal trial.
Nevertheless, his attorneys submitted an appeal to the Court of Appeal, aiming to reverse the High Court’s decision from July 2024.
State prosecutors on Monday prayed the Court of Appeal to dismiss the application filed by NAM1 and his lawyers, arguing that it was an attempt to “overreach the powers of the court and failed to establish any exceptional circumstances to justify a stay of proceedings”.
A three-member panel of the Court of Appeal, presided over by Justice Gbiel Suurbaareh and supported by Justices Afia Serwaa Asare-Botwe and Christopher Archer, unanimously dismissed the application.
Monday’s ruling by the Court of Appeal paves the way for the financial court to continue with the trial, which is expected to be called on May 28 this year.
Meanwhile, NAM1, who spoke to the media after the ruling, indicated that there would be further action.
It doesn’t end here. We still have the Supreme Court, so we will exercise all our rights enshrined under the Constitution. So, I will confer with my lawyers, and whatever as they so advice we will see”.
NKONKONSA.com
