NAM1 hints at going to Supreme Court after losing stay of proceedings at Court of Appeal

Nana Appiah Mensah, CEO of Menzgold Ghana Limited, may escalate his legal battle. He plans to take his case to the Supreme Court. This follows the Court of Appeal's dismissal of his stay application.

On May 19, 2025, a three-member panel rejected his request. They ruled against halting proceedings in his ongoing criminal trial. NAM1 expressed determination after the ruling, stating, “It is not over yet.”

He will consult with his lawyers about next steps. NAM1 and his companies face 39 charges, including:

- Selling gold without a license
- Operating a deposit-taking business without approval
- Inducement to invest
- Defrauding by false pretence
- Fraudulent breach of trust
- Money laundering

These charges involve an alleged misappropriation of over GH¢340 million from customers.

In July 2024, the High Court ordered NAM1 to open his defense. His team had previously submitted a no-case argument that was dismissed. They appealed this decision and sought a stay at both the High Court and Court of Appeal, but both requests were denied.

The Court of Appeal panel included Justice Gbiel Suurbaareh and Justices Afia Serwaa Asare-Botwe and Christopher Archer. They stated that NAM1 did not show exceptional circumstances for a stay.

The Financial Court case is set to resume on May 28, 2025.