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Menzgold Saga: Prosecution Asks For More Time Again

Almost a year after he was released from police custody, the prosecutor handling the case of the businessman, Nana Appiah Mensah, has asked for a longer adjourned date to enable the prosecution to build a watertight case against the embattled Menzgold CEO.

“The prosecution is working closely to advise the court concerning the matter when my Lady grant’s the request, the prosecution will then issue a hearing notice to the accused to come again,” ASP Sylvester Asare told the court on Monday.

This is not the first time the prosecution has asked for more time.

At the last sitting, the prosecutor, ASP Asare, had told the court that the prosecution is filing new charges against the man who is facing charges of money laundering, stealing, taking deposits without authority with other family members now at large.

The amended charge sheet ASP Asare indicated was ready and would be filed to pave way for the necessary processes.

Having listened to the prosecution’s plea once again, the Accra Circuit Court judge, Ellen Asamoah, before taking a decision asked if Counsel for the accused had any objections.

Audrey Twum, who stood in for the accused’s lawyer, said both parties were in talks for a longer date.

Judge Asamoah agreed, but with a caveat that she could not go beyond September.

“If you are asking for an adjournment, you should know that there are certain limits that l cannot go beyond. So we can agree on early September,” the judge warned.

The case is set to continue on September 7, 2020.

At the last sitting, the prosecution withdrew the 61 charges originally brought against the embattled Chief Executive Officer (CEO) of Menzgold.

The prosecution is expected to file new charges against NAM 1 to enable the court to take his plea.


The facts of the case, as presented by ASP Asare, were that in October 2018, the police received a complaint from about 16,000 people that Menzgold had convinced them to invest GH¢1.68 billion in a gold purchase scheme that yielded 10% monthly interest.

According to the prosecution, the complainants said their money was locked up and that they could not find Nana Appiah Mensah and the other principal officers of the company.

The prosecutor said investigations revealed that Menzgold and Brew Marketing Consult were incorporated as limited liability companies in 2013 and 2016, respectively.

Menzgold, he said, obtained a license from the Minerals Commission in August 2016 to purchase and export gold from small-scale miners, and that in order to successfully engage in the business, Nana Mensah founded Brew Marketing Consult to be a gold buying agent.

ASP Asare said although Menzgold was licensed to purchase gold, it was not licensed by the Minerals Commission to trade in gold.

Notwithstanding the lack of such a license, he said, Menzgold went public after its incorporation and invited the public to deposit money for a fixed period with interest, on the pretext of gold purchasing.

The prosecutor said further investigations revealed that the three accused persons were the directors and principal officers of Menzgold and Brew Marketing Consult.


NAM 1 was released from police custody on August 17, 2019, after meeting his revised bail conditions.

Earlier, the court had varied the bail conditions to allow for five sureties to guarantee his bail without showing evidence of having properties worth the GH¢1 billion bail sum.

The court, however, refused a request by counsel for Nana Appiah for a reduction in the bail sum from GH¢1 billion to GH¢20 million.

The court had ordered, on July 26, 2019, that three of the five sureties should show justification, meaning they must show proof that they had properties or interests worth the GH¢1 billion bail sum.

As part of the bail conditions, he is also to report to the Ghana Police Service every Wednesday.


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