High Court’s full ruling on NAM 1's submission of No Case

On July 11. 2024, the High Court in Accra dismissed a motion for submission of "no case" filed by Nana Appiah Mensah, also known as NAM1, Menzgold Ghana Company Limited, and Brew Marketing Company Ghana Limited.

The court, presided over by Dr. Ernest Owusu-Dapaa JA held that it was convinced that a prima facie case had been made against the accused and that it was apparent that they carried on deposit-taking business without a license.

Below is a sneak peek of how the court arrived at its decision thereby directing the accused persons to open their defense;

1. Count One: Selling Gold without a License (Minerals and Mining Act, 2006 (Act 703))

The Prosecution has established a prima facie case that Nana Appiah Mensah and Brew Marketing Consult Ghana Ltd sold gold without a license, contrary to the provisions of the Minerals and Mining Act, 2006 (Act 703).

2. Count Two: Operating a Deposit-Taking Business without a License (Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930))

The prosecution has sufficiently demonstrated that Nana Appiah Mensah and Menzgold Ghana Company Ltd operated a deposit-taking business without a license from the Bank of Ghana, in violation of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).

3. Count Three: Inducement to Invest (Companies Act, 2019 (Act 992))

The court finds that the Prosecution has established a prima facie case of inducement to invest against Nana Appiah Mensah and Menzgold Ghana Company Ltd. The evidence shows that Nana Appiah Mensah and Menzgold Ghana Company Ltd made misleading statements to induce the public to invest in Menzgold Ghana Company Ltd, contrary to the Companies Act, 2019 (Act 992).

4. Counts Four to Twenty-Four (excluding Counts 6,7,8 and 9): Defrauding by False Pretences (Criminal Offences Act, 1960 (Act 29))

The Prosecution has provided sufficient evidence to establish a prima facie case of defrauding by false pretenses against Nana Appiah Mensah, also known as NAM1, Menzgold Ghana Company Limited, and Brew Marketing Company Ghana Limited. The testimonies and financial documents indicate that the Accused persons obtained the consent of individuals to part with their money through false representations.

5. Counts Twenty-Six to Thirty-Two: Fraudulent Breach of Trust (Criminal Offences Act, 1960 (Act 29))

The Prosecution has presented prima facie evidence that Nana Appiah Mensah, also known as NAM1, Menzgold Ghana Company Limited, and Brew Marketing Company Ghana Limited. dishonestly appropriated funds entrusted to them on behalf of depositors, thereby committing a fraudulent breach of trust under Section 128 of the Criminal Offences Act, 1960 (Act 29).

6. Counts Thirty-Three to Thirty-Nine: Money Laundering (Anti-Money Laundering Act, 2008 (Act 749))

The Prosecution has established a prima facie case of Money Laundering against  Nana Appiah Mensah. The financial records and testimonies show substantial transfers of funds intended to disguise their illicit origins, satisfying the elements of Money Laundering under the Anti-Money Laundering Act, 2008 (Act 749).

Following from the above, the court thus made three orders directed at the accused persons as follows;

FINAL ORDERS

1. The Accused persons, Nana Appiah Mensah, Menzgold Ghana Company Ltd., and Brew Marketing Consult Ghana Ltd., are hereby called upon to enter their defense in accordance with Section 174 of the Criminal and Other Offences (Procedure) Act, 1960 (Act 30). They are reminded of their rights to testify on oath, make a statement, or remain silent.
2. Continued Bail Conditions:

The bail conditions previously granted to the Accused persons are to remain in effect, with strict adherence to the stipulated conditions, including regular reporting to the relevant authorities.

     3. Case Management Directions:

The court directs the Defence to prepare his Witnesses, Witness Statements, and any subpoenas ahead of Case Management proceedings regarding the Defence case at the next adjourned date.