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General News of Friday, July 12, 2019
Source: Graphic.com.gh
2019-07-12
Nana Appiah Mensah, aka NAM1
The CEO of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1, is scheduled to appear today in the Accra High Court for defrauding 16,000 customers of more than 1.68 billion pounds a year between January 2017 and September 2018.
He was charged with fraud for fraudulent pretense under false pretense and two heads of unlicensed banking detention, in violation of Article 6 (1) of the Banks and Institutions Act, 2016. specialized warehouses (Law 930).
Two of its companies – Brew Marketing Consult and Menzgold Ghana Limited – represented by itself, have been charged with false pretense fraud, in violation of sections 20 (1) and 13 (1) of the Criminal Offenses Act 1960. (Law 29). .
The two companies were also accused of engaging in unlicensed deposit taking activity, in violation of Article 6 (1) of Law 930.
His sister and his wife, Benedicta Appiah and Rose Tetteh, respectively, were also victims of two counts of false pretense fraud and two counts of engaging in unlicensed banking activities. , in violation of Article 6 (1) of Law 930. However, the two women are at large.
Details of the offenses
According to an article in the Daily Graphic, between January 2017 and September 2018, Brew Marketing Consult and Menzgold swindled Francis Agodzie and 16,000 others over 1.68 billion ¢.
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 the billion GH ¢ customers.
With respect to the inducement to engage in unlicensed deposit taking activities, the three suspects are accused of badisting the two companies to illegally carry out a deposit taking activity.
Arrival
NAM1 arrived at the Kotoka International Airport via Emirates Airline flight EK787 at 10:58 yesterday and was quickly taken away by Interpol Ghana's security staff and the Bureau of National Investigations (BNI).
Interpol officials from Dubai accompanied him in his flight and handed him over to the authorities of Interpol Ghana as soon as he landed the plane.
An emaciated NAM 1 was seen dressed in an ash suit with a hood, with which he covered his face to not be recognized. His hands were handcuffed behind him.
Flanked by two police officers, closely followed by other members of the security forces, he was limping slowly and reaching the offices of the Scientific and Financial Police Unit (FFU) located on the first floor of the CID headquarters. .
As soon as he went to the FFU premises, the frail NAM 1 pulled off the hood to reveal his bushy hair and imperfect mustache, pending the arrival of his two lawyers, MM. . Kwame Akufo and Kofi Supremo.
Context
Ghana police issued an Interpol alert on Wednesday, January 9, 2019 to facilitate the search for NAM1 around the world.
The police also obtained a warrant arrest against NAM 1 and two other directors of Menzgold, accused of defrauding under false pretenses. The two directors are Rose Tetteh and Benedicta Appiah.
The arrest warrant was the result of information from customers of the company that they had been defrauded.
Distinguished officials arrested Mensah on December 7, 2018, as part of investigations into a deal on gold trading within the emirate 's jurisdiction. After his arrest, Ghanaian officials in Dubai visited him while he was in police custody in Dubai.
A special delegation of security agents also left Accra to travel to Dubai following his arrest to gather first-hand information on his arrest by the eminent authorities.
NAM 1
Nana Mensah's is known in 2017 after her badociation with Ghana's creative arts sector with her Zylofon Media Company Limited.
He has signed Shatta Wale, Stonebwoy, Becca, Kumi Guitar, Joyce Blessing, all musicians, as well as actor Toosweet Annan and actress Benedicta Gafah, on his record label Zylofon Media.
Before venturing into the entertainment industry with Zylofon Media, he headed the gold distribution company Menzgold Ghana Limited.
Nana Appiah is also CEO of Brew Marketing Consult, Menzgold Espana S.L, T.I.A. Holdings (United States), Brew Energy Company Limited, Brew Realty Company Limited and Cheetah Security Co. Limited.
He is married to Rose Tetteh, CEO of Rozzy's Collection, a fashion store in Accra, and they have a son.
Injured customers
In 2017, two regulators, the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC), stepped up the fire against Menzgold, which intensified last year.
In a notice published in the Daily Graphic's Monday, October 2, 2018 edition, the SEC informed the public that Menzgold Ghana Limited had not been fired or its advertisements sanctioned by the Securities and Exchange Commission (SEC). ) for the activity on the capital market ".
According to the notice, Menzgold was not a SEC-regulated entity, as its activities were in contravention of paragraph 3 (c) of the Securities Industry Act 2016 (Law No. 929). ), which dealt with the registration, licensing, authorization and regulation of securities industry entities. market.
The BoG also warned the public against depositing money at Menzgold because it was not allowed to receive deposits.
However, Nana Mensah called the BoG's bluff, calling it a joke and diversionary tactic. Later, the SEC ordered Menzgold to suspend its gold trading operations with the public.
Despite the initial protests, Menzgold complied with the directive but did not fully pay its many clients whose investments were due, a situation that then turned into a series of protests in big cities such as Kumasi and Accra.
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