An Accra Circuit Court has adjourned a fraud case against the embattled CEO of Menzgold and Zylofon Multimedia, Nana Appiah Mensah a.k.a NAM 1.
The court, presided by Her Honour Ms. Ellen Asamoah adjourned the case to October 1.
The plea was made by the prosecution in order to add new charges to the case of the serial entrepreneur.
According to the lead prosecutor, Assistant Superintendent of Police (ASP) Sylvester Asare, they were seriously working to advise the court on the matter.
He prayed the court for a long adjournment after which they would have been able to advise the court on their intention of prosecution on the matter.
Mr. Appiah Mensah, who is popularly known as NAM1 is on trial for defrauding about 16,000 people of GH¢1.68 billion with notice of investing their monies.
It is the case of the state that, the embattled CEO contravened sections of the Banks and Specialised Deposits Taking Act, 930, and the Criminal Offences Act while operating Menzgold and its sister company, Brew Marketing.
A charge sheet from the prosecutor stated that between January 2017 and September 2018, Brew Marketing Consult and Menzgold defrauded one Francis Agodzie and 16,000 others of more than GH¢1.68 billion.
The two entities were also accused of carrying out an illegal deposit-taking business during the same period.
The charge sheet explained that Mensah, Appiah, and one Tetteh aided Brew Marketing Consult and Menzgold to defraud the customers of the GH¢1.68 billion.
Nam1 however has been going about his business as usual. he recently signed female songstress Tiisha to his Zylofon music label.
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