NAM1 is calming down in his East Legon residence, not in custody, according to DJ Oxygen

General News of Sunday, July 14, 2019

Source: rainbowradioonline.com

2019-07-14

Alfred Kwame Larbi aka DJ Oxygen, controversial owner of radio and entertainment, says that the CEO of gold distribution company Menzgold, Nana Appiah Mensah, is calming down, contrary to claims that he would have been placed in pre-trial detention.

He made the statements on GH Entertainment on Rainbow Radio 87.5Fm with Root Eye as a host.

DJ Oxygen said that, unlike detention in prison, custody is very different and that if you exert great influence and are placed in custody following a court decision, you may be required to to go home.

Even when the host cast doubts about his claims, the entertainment critic said he knew the CEO in crisis was pulling himself at home.

He also expressed concern about the lack of clarity on issues surrounding Menzgold's controversial issues.

He said the media reports were unclear, everyone giving his own version of the story.

Meanwhile, the Accra Court of First Instance detained Nana Appiah Mensah, Menzgold's chief executive officer, currently in custody, to reappear in court on July 26, 2019.

He was brought to court Friday morning in the heavy security company.

The CEO, known as NAM 1, is the subject of a lawsuit for allegedly defrauding about 16,000 customers.

The businessman was charged with two counts of false pretense fraud and two counts of inducing banking without a license, which runs counter to bank rules and regulations.

He is responsible for the operations that led customers to lose nearly 1.7 billion GHC.

Brew Marketing Consult and Menzgold Ghana Limited have also been charged with false pretense fraud.

This offense is contrary to the Criminal Offenses Act 1960.

Nana Appiah Mensah was arrested and detained by police on her arrival from Dubai where she had already been charged.

Charges laid against the NAM 1

Prosecutors allege that the Menzgold CEO has defrauded about 16,000 people, for a total of 1.68 billion GH ¢, citing the investment of their money.

He is also alleged to have violated articles of the Banks and Specialized Stores Act 930 and the Criminal Offenses Act in connection with the operation of Menzgold and its sister company, Brew Marketing. .

According to the information available between January 2017 and September 2018, Brew Marketing Consult and Menzgold have defrauded Francis Agodzie and 16,000 others for more than 1.68 billion GH ¢.

He further accused the two entities of illegally carrying out deposit-taking activities during the same period.

The prosecution explained that Mensah, Appiah and Tetteh had helped Brew Marketing Consult and Menzgold defraud customers of 1.68 billion GH ¢.

Regarding the charge of conspiracy to operate unlicensed deposits, the three suspects are accused of helping the two companies illegally carry out a deposit taking activity.