A Second Prosecution witness in the ongoing MENZGOLD case, Edward Otu Larbi has told an Accra High Court that his over one million investment is locked up in the defunct gold dealership firm. He says he invested One Million, Two Hundred and Ninety Thousand Ghana cedis in Menzgold, but Nana Appiah Mensah aka NAM1 and his companies, failed to pay the dividends that accrued on the said amount.
Mr. Edward Otu Larbie, who was under cross -examination by lawyer for Nana Appiah Mensah NAM1 and his companies, said he is in Court, because of unpaid dividends on his one million, two hundred and ninety thousand cedis investments, he made with NAM 1 and his failed gold dealership company in 2018. Mr. Otu Larbie, a sales manager, told the court presided over by Justice Ernest Owusu-Dapaah that, although he was promised dividends for his investment, he did not receive anything.
Nana Appiah Mensah, and two of his companies, Menzgold Ghana Limited and Brew Marketing Consult Ghana Limited, have been charged with thirty-nine counts – one count of selling gold without license, one count of operating a 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. Prior to the witness’ testimony, Mr. Kwame Akuffo, lawyer for NAM1 and his companies, in a failed attempt, objected to the admissibility of some paragraphs of the witness statement, because they were hearsay.
He explained that, the prosecution witness, lacked personal knowledge of the joint investment he made with one other person, who was not in Court and therefore could not testify to the case. This argument was strongly disputed by the prosecution, led by the Director of Prosecution, Yvonne Obuobisa Attakora.
Justice Owusu-Dapaah, overruled the argument put up by the defense lawyer, sharing the view that, there was no law under Ghana’s criminal jurisprudence and constitution, which explicitly prohibits a person, who makes a joint investment with another person, from testifying on his role and interest in the investment, simply because one partner or investor, failed to testify to same. In a significant development, the PRO for the aggrieved MENZGOLD customers, Mr. Fred Forson has advised customers not to succumb to any form of influence from other parties as the case progresses.
He alleges that some unknown persons, have tried to silence some of the aggrieved customers through intimidation, harassment, and also through promises of payment of monies owed to them. The case has been adjourned to Wednesday January 17, 2024 where the Prosecution will call its third witness.
