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Court adjourns NAM1's fraud case to October 23

An Accra High Court has adjourned the case of the Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah to October 23.
Menzgold CEO, Nana Appiah Mensah
Menzgold CEO, Nana Appiah Mensah

Appiah Mensah, who is popularly known as NAM1, made an appearance on Tuesday only for the case to be adjourned for some amendments on the charge sheet.

The deferment is to enable prosecution make amendments to the charge sheet before the case proceeds.

READ ALSO: Menzgold is not a Ponzi scheme – NAM 1

This would be the 3rd time the case is being adjourned after the initial charges were increased from 7 to 13.

NAM1 is standing trial and has been charged with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without licence, contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).

He is currently on a GHc 1 billion bail bond with five sureties to be justified.

Judge Harriet Naa Akweley Quaye ruled that NAM 1 is supposed to provide five sureties but none to be justified.

NAM1, according to the prosecutors, defrauded about 16,000 people of GH¢1.68 billion on the name of investing their monies.

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