Nana Appiah Mensah

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Nana Appiah Mensah popularly known as NAM1, is a Ghanaian business man known for the menzgold fraud. He is married to Rose Mensah, who was charged by the state as a coconspirator. [1] [2]

Contents

Education

Nana Appiah Mensah had his secondary school education at Adisadel College in the Cape Coast. He went on to further his education at University of Ghana, Legon. [ citation needed ]

Career

In 2016, He founded Zylofon Media, a multimedia company which he used to recruit notable musicians like Shatta Wale, [3] Stonebwoy, [4] Becca, Kumi Guitar, and Joyce Blessing. Zylofon Media also extended its reach to the film industry, signing popular actors like Benedicta Gafah, and Toosweet Annan. He used this in recruiting victims for the menzgold scam. The company was eventually shut down by the Ghana Securities and Exchange Commission.

Menzgold fraud

On 9 January 2019, a circuit court issued a warrant to arrest Mensah for money laundering and fraud [5] causing the Criminal Investigations Department of the Ghana Police Service to trigger an Interpol red alert. [6] [7] He was also charged because his company was unlicensed to take deposits and is said to have defrauded by false pretense. [8] [9] In the fall of 2023, the A-G announced that he would take over the prosecution of the Menzgold case, slapping him with 39 counts of various charges.

Restitution of Menzgold victims

In September 2018, Menzgold took the Securities and Exchange Commission, Ghana (SEC) and the Bank of Ghana (BOG) to court after its license was revoked by the SEC. Mensah returned to Ghana in July 2019, claiming he had been acquitted in Dubai and would assist authorities in paying back Menzgold customers. [10] [11] While victims remain unpaid, supporters of Nana Appiah Mensah insisted he was being unfairly treated by the government. [12] [13]

Menzgold insisted that they were to be paid by order of Dubai court a sum of $39 million as payment of the Gold supplied to Royal Diamonds in three weeks. [14] Along with compensation for wrongful incarceration. [15] Nana Appiah Mensah arrived in Ghana on 11 July to be interrogated by the Criminal Investigation Department of the Ghana Police Service.

On 18 August 2023, Nana Appiah Mensah, attempted to further raise more money from his victims through a purported Digital Verification Access Card priced at GHC650. He insisted it was a requirement to verify claims before victims will be paid. [16] After substantial public outrage, the decision was rescinded. [17] [18]

Prosecution

Nana Appiah Mensah and his companies were charged with 39 counts of various offences on August 30, 2023 including unlicensed gold sales, unauthorized deposit-taking, investment inducement, defrauding by false pretences, fraudulent breach of trust, and money laundering involving over GH₵340 million. [19] [20] [21] [22]

Achievements

References

  1. ↑ Bonney, Abigail (9 July 2020). "I will choose you again and again - NAM1 eulogises wife". Adomonline.com. Retrieved 23 August 2023.
  2. ↑ Enchill, Joseph (27 November 2019). "NAM1 plays with his son in new video after Zylofon fire incident". Adomonline.com. Retrieved 23 August 2023.
  3. ↑ republikcitynews.online. "Shatta Wale signs three-year contract with Zylofon Media". Republik City News. Archived from the original on 18 September 2023. Retrieved 10 May 2021.
  4. ↑ "Stonebwoy signs record deal with Zylofon Media – Entertainment 2017-06-15". www.ghanaweb.com.
  5. ↑ "Police declares NAM1 wanted; secures warrant for his arrest". 9 January 2019. Retrieved 9 January 2019.
  6. ↑ "Nana Appiah Mensah Charged With Defrauding By False Pretence; warrant Issued For His Arrest". Modern Ghana.
  7. ↑ Zurek, Kweku. "NAM 1: The serial award winner now a fugitive?". Graphic Online.
  8. ↑ Effah, Evans (4 September 2023). "Attorney General assures justice for Menzgold victims". Pulse Ghana. Archived from the original on 5 September 2023. Retrieved 5 September 2023.
  9. ↑ "Menzgold boss, Nana Appiah Mensah, arrives in Ghana". www.ghanaweb.com. Archived from the original on 5 September 2019. Retrieved 11 July 2019.
  10. ↑ "Why NAM1 was arrested in Dubai". Graphic Online. Retrieved 30 March 2019.
  11. ↑ "Nam 1 wins case in dubai". www.graphic.com.gh. Retrieved 18 April 2019.
  12. ↑ "Ghana Govt is Using Illegal Means To Keep NAM1 in Dubai – Stanley Kodia". www.celebritiesbuzzgh.com. 30 May 2019.
  13. ↑ "Ghana Government is Using Illegal Ways To Keep Nana Appiah Mensah in Dubai – Stanley Kodia". www.africaparrot.com. Archived from the original on 31 May 2019. Retrieved 31 May 2019.
  14. ↑ Online, Peace FM. "Dubai Court Orders Royal Horison To Pay $39m To Nana Appiah Mensah". www.peacefmonline.com. Retrieved 11 July 2019.
  15. ↑ Yeboah, Isaac (11 July 2019). "NAM1 arrives in Ghana today". www.graphic.com.gh. Retrieved 4 September 2019.
  16. ↑ Togoh, Sika (18 August 2023). "Why is NAM 1 trending in Ghana?". Radio Univers 105.7fm. Archived from the original on 18 September 2023. Retrieved 23 August 2023.
  17. ↑ "Menzgold saga: NAM 1 backtracks on 'GHs650-for-validation' repayment plan". www.myjoyonline.com. Retrieved 23 August 2023.
  18. ↑ "NAM 1 Drops GHC650 Latest Scam ... Adopts New Strategy". DailyGuide Network. 21 August 2023. Retrieved 23 August 2023.
  19. ↑ "NAM 1 slapped with new charges; hearing set for September 19". www.myjoyonline.com. Retrieved 6 September 2023.
  20. ↑ "AG files fresh charges in NAM 1 case, drops three year old trial". Citinewsroom - Comprehensive News in Ghana. 30 August 2023. Retrieved 6 September 2023.
  21. ↑ "NAM1 Faces 39 New Charges As Menzgold Customers Struggle With Fresh Demands". DailyGuide Network. 30 August 2023. Retrieved 6 September 2023.
  22. ↑ Amoh, Emmanuel Kwame (4 September 2023). "Justice will be served – AG assures Menzgold victims". 3news.com. Retrieved 6 September 2023.
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