Justice Ernest Owusu Dapaah, the Judge, sitting on the case involving the Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM 1 and two of his companies for defrauding its customers, has advised parties in the matter, to explore the various options available including Alternative Dispute Resolution or the plea bargaining process, in settling the case outside of Court if possible.
Justice Owusu Dapaah, suggested this to the parties, during a case management conference, on how the trial would be conducted. Meanwhile a test run of the case, is scheduled for Wednesday December 20, 2023, and will resume in January after the holiday break.
Prosecution, led by the Director Public Prosecutions, Yvonne Atakora Obuobisa, told the Court, they will be calling eleven witnesses, mostly customers of the defunct Menzgold company.
NAM1 and two of his companies – Menzgold Ghana Limited and Brew Marketing Consult Ghana Limited – are facing 39 counts of defrauding by false pretence, inducing members of the public and money laundering.
The prosecution, at a previous hearing, amended the charge sheet, and although the charges remain the same, there is a significant drop in the amount the three were previously accused of swindling from their customers.
While the earlier charge sheet filed before a High Court in Accra accused the three of inducing members of the public to invest a total of GH¢1,680,920,000, the figure has reduced to GH¢340,835,650.
According to a source, the amendment to the figures became necessary, due to the unwillingness of some of the complainants to mount the witness box to testify against the accused person.
The three have been charged with a total of thirty-nine counts – one count of selling gold without licence, one count of operating deposit-taking business, one count of inducement to invest, 22 counts of defrauding by false pretence, seven counts of fraudulent breach of trust and seven counts of money laundering.
The three are alleged to have defrauded their customers in various sums of monies between 2016 and 2018, totaling GH¢340,835,650.
During case management conference on the case on Tuesday afternoon, the Court said the trial is to begin on December 20, 2023, and resume in January 2024, where there will be a continuous 5 day hearing from 15th to 19th January.
Judgement in the case, is predicted to be held in March 2024.
Spokesperson for the aggrieved customers of Menzegold, speaking to the media after Court, were satisfied with the expeditious flow in which the case is proceeding and said, they were particularly pleased with the Judge’s opinion for the parties to explore other aspects of settling the matter other than the traditional court system.
