NAM 1 To Face 25 Years In Prison – Lawyer Amoatey

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The member of Parliament for Yilo Krobo constituency and ranking member of the parliamentary select committee on judiciary who doubles as a member of the constitution, legal and parliamentary affairs committee in Parliament hon. Lawyer Magnus Kofi Amoatey has disclosed that the Chief Executive Officer (CEO) of MENZGOLD Nana Appiah Mensah popularly known in Ghana as NAM 1 could face a minimum of 10years to a maximum of 25 years imprisonment when found guilty of all the charges levelled against him even as he appears in court today.

According to the hardworking and experienced legal practitioner, being charged with two counts of abetment to defraud by pretence and two counts of abetment to carry out banking business without licence which is contrary to section 6(1) of the banks and specialized Deposit-taking Institutions Act, 2016 (Act 930) are serious offences and that are very punishable when found culpable.

In a phone interview with the host of the Susubiribi morning show, Nana Kwabena Addo Papabi on Radio 1FM 100.7MHZ on Friday July 12th 2019, he revealed that such charges cannot be overlooked in that the charges pressed against him should speak to Ghanaians as guidelines or datum in operating businesses in Ghana and also help to sanitize the business and banking sector in the country.

Nana Appiah Mensah since 2017 has been battling with allegations of defrauding customers of Menzgold to a tune of ₵1.68 billion. He is said not to face court or the charges alone but with his sister and wife, Benedicta Appiah and Rose Tetteh respectively.

However, the customers of menzgold have since the arrest of NAM 1 in Dubai been waiting for his arrival in Ghana and today, he would be arraigned before court to face 5 counts of charges bodering on fraud, abetment and misrepresentation.

Background

The Ghana Police Service since January 9 2019 triggered an Interpol alert to facilitate the search for NAM 1 globally. They also obtained a warrant for his arrest and two other directors of Menzgold.

By: Radio1News|Ghana