Court of Appeal Dismisses Stay of Proceedings Application filed by Nam1

The “NAM1 court case” refers to the legal proceedings against Nana Appiah Mensah, also known as NAM1, and his companies, Menzgold Ghana Limited and Brew Marketing Consult Ghana Limited. NAM1, the founder of the defunct gold trading firm Menzgold, faces 39 charges, including selling gold without a license, operating a deposit-taking business, and defrauding by false pretenses. The prosecution accuses him of defrauding investors of over GHc340 million

The Court of Appeal this morning dismissed an application for stay of proceedings filed by NAM1.
Mr. Kwame Boafo Akuffo, counsel for NAM1, moved the application and urged the Court to grant a 120-day stay of proceedings, pending the determination of the substantive appeal against the prima facie case established against the accused persons.
However, the Prosecution, represented by Mr. Watkings Adama, Senior State Attorney, opposed the application, arguing that no exceptional circumstances had been raised to justify a stay. He therefore prayed the Court to dismiss the application.
The Court accordingly dismissed the application, ruling that the accused persons had not demonstrated any exceptional grounds warranting a stay of proceedings.
This ruling by the Court of Appeal implies that the trial at the High Court may now proceed. The Prosecution was represented by Mr. Adama Watkings and Ms. Peggy, who held a brief for the Office of the Attorney General.
The next hearing is scheduled for Tuesday, 28th May 2025 at 10:00 AM at High Court, 2nd Floor, Financial and Economic Court 1.