Court Dismisses NAM1’s Stay of Proceedings in Menzgold Case

The Court of Appeal has dismissed Nana Appiah Mensah’s (NAM1) application to stay proceedings in the ongoing Menzgold trial. This decision upholds the High Court’s earlier ruling, which found sufficient evidence for NAM1 and his companies to answer charges related to defrauding customers of over GH¢340 million.

NAM1, CEO of the defunct Menzgold Ghana Limited, had sought to halt the trial pending an appeal against the High Court’s directive to open his defense. The Court of Appeal, however, found no merit in the application, allowing the trial to proceed.

Previously, the High Court had dismissed NAM1’s submission of no case, ordering him to respond to 36 charges, including selling gold without a license, operating an unauthorized deposit-taking business, inducing investment under false pretenses, fraudulent breach of trust, and money laundering.

In December 2024, NAM1 requested additional time to engage new legal representation after parting ways with his previous lawyer, citing fundamental differences in defense strategy.