The CEO of Menzgold Ghana Limited, Nana Appiah Mensah, could face up to 10 years or more in jail if found guilty, private legal practitioner, Samson Lardy Anyenini, has said.
According to the lawyer, NAM 1 could be handed a lengthy jail term if the defrauding by false pretence and money laundering charges are proven.
The Menzgold CEO was declared wanted on Wednesday after an Accra Circuit Court issued a warrant for his arrest.
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Speaking to Joy News, lawyer Anyenini said it is premature to determine on what charges Nana Appiah Mensah would be tried but said the business mogul could be in for a long stay in jail if his charges 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,” the lawyer said.
“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 added.
Lawyer Anyenini, however, said it may be difficult to prove the allegations levelled against NAM 1.
On the jail term that could be pronounced, he said NAM 1 could get 10 years or more, adding “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.”
Menzgold has been in the news in recent months following disagreements with the Bank of Ghana (BoG) regarding its operations.
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