Court Of Appeal Rejects NAM1’s Attempt To Stop Menzgold Trial

Embattled CEO of the defunct Menzgold Ghana Limited, Nana Appiah Mensah—popularly known as NAM1—has suffered a legal blow after the Court of Appeal dismissed his bid to halt ongoing criminal proceedings against him.

The ruling was delivered on Monday, May 19, 2025, after NAM1 filed an application seeking a stay of proceedings at the financial court, which had earlier ruled that a prima facie case had been established against him.

NAM1, along with his two companies—Brew Marketing Consult and Menzgold Ghana Limited—is facing 39 counts of various criminal offences. These include operating without a gold trading license, running an unlicensed deposit-taking business, inducement to invest, defrauding by false pretences, fraudulent breach of trust, and money laundering, involving over GH₵340 million.

The application to the Court of Appeal was part of NAM1’s legal strategy while awaiting a decision on a separate appeal contesting a 2024 High Court ruling that directed him to open his defence.

However, state prosecutors urged the Court of Appeal to reject the stay application, describing it as an attempt to “overreach the powers of the court” and arguing that the defence had failed to demonstrate any exceptional circumstances to warrant a stay.

The three-member panel, chaired by Justice Gbiel Suurbaareh and supported by Justices Afia Serwaa Asare-Botwe and Christopher Archer, unanimously dismissed the application.

This ruling now clears the way for the financial court to proceed with the criminal trial, which is scheduled to resume on May 28, 2025.

Following the court’s decision, NAM1 addressed the media, expressing his intention to continue pursuing legal remedies.

“This doesn’t end here. We still have the Supreme Court, so we will exercise all our rights enshrined under the Constitution. I’ll confer with my lawyers, and whatever they advise, we will proceed accordingly,” he stated.

“It does not end here. I mean we still have the supreme court and we will continue to exercise all our rights enshrined in the constitution” – The Court of Appeal has dismissed an application filed by Nana Appiah Mensah, CEO of the defunct Menzgold Ghana Limited, seeking to halt… pic.twitter.com/DYoVAEG0Py

— ChannelOne TV (@Channel1TVGHA) May 19, 2025

Source: Nkonkonsa.com