NAM 1 congratulates Akufo-Addo on a well-merited re-election

The Chief Executive Officer of defunct gold dealership firm Menzgold, Nana Appiah Mensah has congratulated President Nana Addo Dankwa Akufo-Addo for a "well-merited" re-election.

The businessman who is currently facing charges of defrauding by false pretence in court also praised the opposition National Democratic Congress (NDC) candidate John Mahama for giving an exemplary account of himself in Monday's general election.

He took to his official Twitter handle to praise the two leading candidates.

He tweeted: "Congratulations to the NPP & the president-elect; H.E.Nana Akufo Addo for a well-merited election. To the NDC & Ex prez John Mahama for giving great & exemplary accounts of yourselves. You’re all indeed great men of our land. We’re proud of you. #GhanaShallProsper".

It will be recalled that during campaigning for the elections, the presidential candidate of the National Democratic Congress (NDC), former President John Dramani Mahama stated that he will pay all the affected customers of Menzgold their locked-up investments should the party win the election.

President Akufo-Addo of the incumbent New Patriotic Party (NPP) won Monday's general election with 6,730,413 representing 51.595% while his main contender John Mahama of the NDC had 6,214,889 representing 47.366%.

NAM 1 trial

NAM 1 and two others are currently standing trial for alleged fraud.

The prosecution has accused Nana Appiah Mensah, his wife, Ms Rose Tetteh, and his sister, Ms Benedicta Mensah, of using Menzgold as a tool to defraud more than 16,000 people of GH¢1.68 billion.

His wife and his sister are, however, at large.

Facts

The facts as presented by a Police prosecutor in court are that in October 2018, the police received a complaint from about 16,000 people that Menzgold had convinced them to invest GH¢1.68 billion in a gold purchase scheme that yielded 10 per cent monthly interest.

The complainants said their money was locked up and that they could not find Nana Mensah and the other principal officers of the company.

The prosecutor said investigations revealed that Menzgold and Brew Marketing Consult were incorporated as limited liability companies in 2013 and 2016, respectively.

Menzgold, the Prosecutor said, obtained a licence from the Minerals Commission in August 2016 to purchase and export gold from small-scale miners, and that in order to successfully engage in the business, Nana Mensah founded Brew Marketing Consult to be a gold buying agent.

The Prosecutor said although Menzgold was licensed to purchase gold, it was not licensed by the Minerals Commission to trade in gold.

Notwithstanding the lack of such a licence, the Prosecutor said, Menzgold went public after its incorporation and invited the public to deposit money for a fixed period with interest, on the pretext of gold purchasing.

The prosecutor said further investigations revealed that the three accused persons were the directors and principal officers of Menzgold and Brew Marketing Consult.