NAM1 exposed; defrauded 16,000 customers of more than GHC1.68 billion


– An Accra High Court has revealed that Menzgold CEO Nana Appiah Mensah has allegedly defrauded 16,000 customers of his gold dealership firm Menzgold 

– They disclosed that more than GHC1.68 billion is the amount involved in the alleged fraudulent act 

– Two companies, Brew Marketing Consult and Menzgold Ghana Limited represented by him, have each been charged with defrauding by false pretense

CEO of Menzgold Ghana Limited and Brew Marketing Consult, Nana Appiah Mensah has been charged by an Accra High Court with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without licence.

According to the court, about 16,000 customers of Menzgold have been allegedly defrauded by NAM1 and two others to the tune of GHC1.68 billion.

In a report sighted by on, the embattled CEO and two others has been charged for his role in the collapse of Menzgold and Brew Marketing Consult. A charge sheet sighted by Graphic Online’s Mary Mensah on the crime beat stated that between January 2017 and September 2018, Brew Marketing Consult and Menzgold defrauded one Francis Agodzie and 16,000 others of more than GH¢1.68 billon. It further accused the two entities of carrying out an illegal deposit-taking business during the same period.

The charge sheet explained that Mensah, Appiah and Tetteh aided Brew Marketing Consult and Menzgold to defraud the customers of the GH¢1.68 billon. With regard to the charge of abetment to carrying out deposit-taking business without licence, the three suspects are accused of aiding the two companies to illegally carry out a deposit-taking business. NAM1’s court appearance followed his arrival to Ghana yesterday July 11, 2019 after months of battling a court case in Dubai. Minutes after arriving at the Kotoka International Airport, he was arrested by the Criminal Investigation Department.

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