The Chief Executive Officer (CEO) of defunct gold dealership firm, Menzgold Ghana Limited, Nana Appiah Mensah has pleaded not guilty to all 39 counts.
The Attorney General filed the charges against him for his alleged involvement in defrauding some Ghanaians to the tune of GHC 1.68 billion through his Menzgold Ghana Limited and Brew Marketing Consult.
The charges are 22 counts of defrauding by false pretence, seven counts each for money laundering and fraudulent breach of trust. The other counts include one count each for inducement to invest, operating a deposit-taking institute without a license, and selling gold without a license.
Some of the funds he allegedly received from Menzgold customers were deposited into the personal accounts of NAM1, Zylofon Media, and one Abigail Mensah.
He is also accused of using his media company, Zylofon Media, to launder money he knew was stolen.
However, during court proceedings on Tuesday, September 19, the businessman popularly called NAM 1, pleaded not guilty to all these charges.
Meanwhile, Nana Appiah Mensah has been granted bail to the tune of GH 500 million with four sureties, none of whom can be justified.
As part of the bail requirements, he has also been told to deposit his passport to the court registry.
He is also expected to show up at the CID headquarters every Thursday.
