Nana Appiah Mensah Menzgold Trial: Witness Statements Filed as Cross-Examination Resumes July 17

The Accra High Court has adjourned the high-profile criminal trial of Nana Appiah Mensah, popularly known as NAM1, to July 17, 2026. This decision follows the completion of a Case Management Conference (CMC) and the belated filing of witness statements by the former CEO of the collapsed gold dealership firm, Menzgold Ghana Limited. NAM1, who is standing trial alongside two of his companies, faces 39 counts of defrauding by false pretense, money laundering, and operating a specialized deposit-taking institution without a license. Despite the gravity of the charges, the accused has maintained a not guilty plea and remains on bail.

During the most recent court proceedings, it was confirmed that NAM1 submitted his witness statement, a document the court had originally ordered to be filed in 2024. The court has granted the defense until the next hearing date to file any additional supporting documents and evidence. The prosecution's case centers on allegations that between 2016 and 2018, the accused misled over 16,000 investors to deposit approximately GH"340,835,650 into Menzgold by promising monthly returns of 7% to 10%. Investigations revealed that these funds were frequently transferred to related entities, leading to the eventual collapse of the scheme after the Securities and Exchange Commission (SEC) ordered the company to halt its unlicensed operations.

The Coalition of Aggrieved Customers of Menzgold (CACM) has been closely monitoring the case, with spokesperson Fred Forson expressing hope for a prompt conclusion. The coalition noted that the filing of the witness statement is a critical step forward in a legal process that has seen numerous delays. The collapse of Menzgold remains one of the most significant financial scandals in Ghana's history, having caused widespread economic hardship and multiple public protests by depositors who have been unable to access their life savings for several years.

As the trial moves into the cross-examination phase on July 17, the court will scrutinize the testimony provided by NAM1 and the seven defense documents he intends to rely upon. The prosecution continues to maintain that the accused operated a fraudulent enterprise by representing Menzgold as a licensed financial institution when it was not. The upcoming session is expected to be a pivotal moment in the state's efforts to provide justice for the thousands of affected investors and to bring closure to this long-running judicial matter.