Executive Director of the Economic and Organised Crime Office (EOCO), COP Maame Yaa Tiwaa Addo-Danquah, says there is “insufficient evidence” to prosecute Nana Appiah Mensah, popularly called NAM1, who was accused of running a Ponzi scheme.
Chief Executive Officer of the defunct Menzgold Ghana Limited is currently on bail following his arrest on July 11, 2019, upon his return to the country from Dubai where he was put in detention on charges of defrauding a business partner.
After months of legal tussle in Dubai, NAM1 was released as prosecutors could not prove their case of fraud against him, apparently paving the way for him to come back to Ghana to stand trial.
He was initially charged for money laundering and defrauding by false pretences by taking deposits without a licence, and has since been going in and out of courts, facing over 50 charges.
ASP Sylvester Asare, who is leading the state’s prosecution, calling for an adjournment of the case, indicated that the state intended to file a new charge sheet which had 13 complainants who alleged being defrauded to the tune of GH¢1.1m.
They include Volkan Basler GH¢350,000; Kofi Tweneboah, GH¢100,000; Godfred Oduro Yeboah, GH¢94,500; Evelyn Twerefuor, GH¢170,000; Emmanuel Oppong Cobby, GH¢200,000; Rachael Siam GH¢28,000 and Frank Konadu Agyemang GH¢26,000.
The charge sheet, which has been amended for the third time, also contained charges of money laundering, unlawful deposit-taking and sale of minerals without a licence.
Prosecution
COP Tiwaa Addo-Danquah said the state had looked into prosecuting NAM1, but there is insufficient evidence to give rise to a realistic prospect of convicting him of any criminal offence arising from the circumstances of his Ponzi scheme activities.
Speaking at a forum organised by the Asante Professional Club recently, the EOCO boss said they were finding it difficult to obtain evidence to prosecute Nana Appiah Mensah due to the lack of relevant laws to support the case.
According to her, it is easy for public institutions such as hers to sometimes notice the commission of crime by some individuals, but could not be prosecuted due to lack of relevant laws to capture the action as a crime.
“An example is the Menzgold case. Which law or which Act did he break? And it is becoming difficult even prosecuting that case because no law will define the offence,” COP Tiwah stressed.
The EOCO boss explained that nothing is considered a crime until it is made a crime by legislation.
The Asante Professionals Club is a professional organisation of individuals who contribute ideas and resources for the development of Asanteman.
The Club was established in 2015 and has since undertaken projects and programmes in line with the development agenda of Asanteman as desired by the Asantehene, Otumfuo Osei Tutu II.