Location: Accra, Ghana
In a landmark decision today, the Court of Appeal rejected an application by Nana Appiah Mensah—widely known as NAM1, former CEO of the now-defunct Menzgold Ghana Limited—to stay his ongoing criminal proceedings. This ruling paves the way for the High Court’s earlier order that NAM1 must open his defence on multiple fraud and money-laundering charges.
Background: From High jCourt Order to Appeal
High Court Ruling (2024)
The Accra High Court directed Nana Appiah Mensah to formally present his defence against allegations of:
• Sale of gold without a license
• Fraudulent breach of trust
• Defrauding by false pretence
• Money laundering
Appeal & Stay Application
NAM1’s legal team immediately appealed that decision to the Court of Appeal and concurrently requested a suspension of all High Court proceedings until the appeal verdict.
The Appellate Hearing
• Prosecution’s Argument:
State prosecutors argued that granting a stay would improperly expand judicial powers and that no exceptional circumstances justified delaying the trial.
• Panel Composition:
The unanimous three-judge bench included:
1. Justice Gbiel Suurbaareh (Presiding)
2. Justice Afia Serwaa Asare-Botwe
3. Justice Christopher Archer
Judgment
The panel dismissed the stay application, affirming that the High Court’s timeline for NAM1 to open his defence should proceed without interruption.
Reactions from Stakeholders
• Aggrieved Menzgold Customers:
Frederick Forson, spokesperson for the Menzgold investors, applauded the Court of Appeal’s decision as “a significant step toward delivering justice to victims.”
• NAM1’s Response:
Nana Appiah Mensah has indicated plans to escalate the matter to the Supreme Court, following counsel’s advice on potential grounds for further appeal.
What’s Next?
High Court Trial Continues:
NAM1 must now comply with the original directive and open his defence in the criminal trial.
Possible Supreme Court Appeal:
Should NAM1 file to the Supreme Court, the apex court will determine whether any legal errors occurred in the handling of his appeal.
Implications for Menzgold Investors:
A swift conclusion to the criminal case could have downstream effects on civil claims for restitution by defrauded investors.
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