By The Court of Appeal dismisses NAM1’s bid to halt the Menzgold trial, paving the way for proceedings to continue. Stay updated on the latest developments.
The CEO of defunct Menzgold, Nana Appiah Mensah, is currently facing a legal setback after the Court of Appeal on Monday, May 19, dismissed his application for a stay of proceedings in his ongoing criminal trial.
Nana Appiah Mensah, also known as NAM1, and his two companies—Brew Marketing Consult and Menzgold—face 39 charges. These include selling gold without a license, operating a deposit-taking business, inducement to invest, defrauding by pretenses, fraudulent breach of trust, and money laundering involving over GH₵340 million.
He filed for a stay at the Court of Appeal after the financial court established a prima facie case against him.
NAM1 sought a stay of proceedings at the Court of Appeal while awaiting a ruling on his appeal against the High Court’s order to open his defense.
In 2024, the financial court ordered Nana Appiah Mensah to open his defense in the ongoing criminal case. However, his lawyers filed an appeal at the Court of Appeal, seeking to overturn the July 2024 High Court ruling.
On Monday, state prosecutors urged the Court of Appeal to dismiss NAM1’s application, arguing it overreached the court’s powers and lacked exceptional circumstances to justify a stay.
The Court of Appeal’s three-member panel, presided over by Justice Gbiel Suurbaareh and supported by Justices Afia Serwaa Asare-Botwe and Christopher Archer, unanimously dismissed the application.
This ruling by the Court of Appeal paves the way for the financial court to continue with the trial, which is expected to be called on May 28 this year. Speaking to the media after the ruling, Nana Appiah Mensah stated that further action would follow.
He said “It doesn’t end here. We still have the Supreme Court, so we will exercise all our rights enshrined under the Constitution. So, I will confer with my lawyers, and whatever as they so advice we will see”.
