Lawyer Samson Lardi Anyenini who is the also the host of Newsfile on Joy FM says Nana Appiah Mensah, CEO of Menzgold could face 10 years or more in jail if found guilty of a serious offence by the court.
He added that even though it is premature to determine the charges Nana Appiah would be tried, he may be in for a long while if the defrauding by false pretence and money laundering offences for which an arrest warrant has been issued are proven.
“It will be important for example to know in detail the person who has made the complaint and the specific nature of the complaint. If you know that, then you will begin to appreciate the consequences that will follow. You may have defrauded by false pretences in an insignificant amount of money and you may have defrauded by false pretences over a significant amount of money.
“The source of the money can also become the main issue and in this circumstances…where issues of the potential money laundering charge that may also come. These are labelled in our law as serious offences and for as long as they are serious offences - a second-degree felony, you are looking generally about 10 years,” he told Raymond Acquah on UPfront.
Lawyer Samson Lardi Anyenini
He, however, added that the charges are going to be extremely difficult to prove or sustain for these customers who may have received benefits over five years and reinvested over and again.
Section 131 of the Criminal Offences Act 1960 (Act 29) stipulates “Whoever defrauds any person by any false pretence shall be guilty of a second-degree felony.”
Mr Anyenini says once the specific offence committed is identified the exact demand of the police on NAM 1 will be clear.
However, he added that the law recommends a 10 year jail term, “but we may get to know, because we are hearing that there could be a money laundering matter and several other issues that have to do with serious crimes and therefore it may be premature to look at it within the confines of defrauding by false pretences rather than some other more serious felonies.”
Nana Appiah Mensah is currently the most wanted man in Ghana as an Accra Circuit Court has issued a warrant for his arrest.
The Circuit Court, which issued the warrant for the arrest of the CEO of the gold dealership company, said NAM 1, as he is popularly called, is wanted for defrauding by false pretence. He is also wanted for money laundering.
He current location is unknown but grapevine say he is either in Nigeria or South Africa.
Read also: Menzgold saga: How it all began in 2014