An Accra High Court has dismissed a submission of no case filed by the Chief Executive Officer of Menzgold, Nana Appiah Mensah, also known as NAM 1.
On Thursday, July 11, 2024, the court said that NAM1 had a case to answer and ordered him to open his defence.
The ruling, which was scheduled for Wednesday, July 10, was adjourned to July 11, due to the presiding judge, Justice Ernest Owusu-Dapaa’s involvement in some cases at the Court of Appeal.
Mr Mensah and his companies — Menzgold Ghana Limited and Brew Marketing Consult Ghana Limited — have been charged with 39 counts.
The charges comprise selling gold without a license, operating a deposit-taking business, inducement to invest, defrauding by false pretence, fraudulent breach of trust and money laundering.
On the ‘no case’ application, the court was to rule on whether the prosecution had sufficiently made its case or whether prima facie evidence had been established.
In the 110-page ruling, the court ruled whether Menzgold and NAM1 sold gold to anyone.
Justice Owusu-Dapaah first said the prosecution had established that the accused were selling gold.
On whether or not the accused were involved in the sale of gold without a license and whether or not they had the license, the court said that it appears that neither NAM1 nor Menzgold was licensed to deal in gold under the Minerals and Mining Act.
In relation to the involvement of the accused in selling gold without a license and whether they possessed the necessary license, the court stated that it seems that neither NAM1 nor Menzgold was licensed to trade gold under the Minerals and Mining Act.
“The receipts tendered by the witnesses were not personal jewellery but were real gold, and thus, the accused did not have the license to deal in gold in the manner they did. Brew Marketing Consult is unknown to the minerals commission to purchase gold.
“Based on the evidence presented, it appears that the accused persons did not possess a valid license,” the court said.
The court also found that the prosecution has made a prima facie case against the accused on whether they induced the general public to invest funds of more than GH₵340 million.
The court indicated that the accused persons have a case to answer on whether the accused defrauded Ghanaians by pretences.
Meanwhile, NAM 1 has expressed disagreement with the court’s ruling.
Speaking to reporters outside the court, he said he trusts the justice system despite his disagreement with the ruling.
“We had some acquittals and a huge chunk of the charges have been dismissed, which is fine. We disagree with the judgment of the court, but it is worthy of note that the disagreement does not in any way erode our confidence in the judiciary or the court,” he stated.