The fraud case against the CEO of Menzgold, Nana Appiah Mensah otherwise NAM1 has been adjourned.
He was arraigned before an Accra Circuit Court for defrauding Ghanaians through his defunct gold dealership firm.
Per reports, the court presided over by, Her Honour Evelyn Asamoah deferred the case to January 20, 2021.
According to the outlet, the prosecutor in the case, ASP Sylvester Asare, requested for more time during Wednesday, December 16, 2020, proceedings to allow for thorough investigations to be conducted.
The defence reportedly did not object to the prosecution’s request.
Over $6 million of principal funds got locked up following the closure of the firm.
The Securities and Exchanges Commission (SEC) shut down the gold dealership firm in 2018.
The firm was trading in gold collectibles with guaranteed returns to clients which constitutes, in essence, dealing in securities with neither the necessary license nor disclosures authorised by the Commission.
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