The Court of Appeal has rejected an application by Nana Appiah Mensah, CEO of the defunct Menzgold, popularly known as NAM1, seeking to halt his ongoing trial at the Accra High Court pending the outcome of an appeal.
In its ruling, the appellate court found that NAM1 failed to demonstrate any exceptional circumstances that would warrant the exercise of the court’s discretion in his favour.
NAM1 is currently appealing the High Court’s decision on July 11, 2024, which dismissed his Submission of No Case and directed him to open his defence to the charges brought against him.
Nana Appiah Mensah, also known as NAM1, and his lawyer, Kwame Akuffo, filed a Submission of No Case after the state closed its case, having called nine witnesses, including a police investigator. They argued that the prosecution had failed to establish a prima facie case against NAM1, Menzgold, and Brew Marketing Consult.
However, the Accra High Court rejected the submission. Justice Ernest Owusu Dapaah ruled that the prosecution had presented compelling evidence linking NAM1 and his companies to the alleged offenses, warranting a directive for him to open his defence.
With an appeal against that ruling pending, NAM1 filed a motion to stay proceedings at the High Court, which was denied. He subsequently took the matter to the Court of Appeal, which also dismissed his request on Monday, May 19.
NAM1 is currently on trial for allegedly defrauding customers of his now-defunct company. He has pleaded not guilty to 39 charges, including unlawful gold trading, operating a deposit-taking business without a license, inducement to invest, defrauding by false pretenses, fraudulent breach of trust, and money laundering.
The trial is set to resume at the High Court on May 28.
