NAM1 Granted GHc1 Billion Bail
Nana Appiah Mensah aka NAM1
An Accra Circuit Court has granted the embattled Chief Executive Officer (CEO) of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1 a GH¢ 1 billion bail.
NAM1 was hauled before the court charged with 13 counts of defrauding by false pretenses, money laundering, abetment, among others.
According to the state, between January 2017 and September 2018, Brew Marketing Consult and Menzgold defrauded one Francis Agodzie and 16,000 others of more than GH¢1.65 billon.
He is further accused of carrying out an illegal deposit-taking business during the same period.
He pleaded not guilty to all the charges leveled against him.
His lawyer, Kwame Akuffo, pleaded with the court to grant him bail while the case goes on trial.
The prosecution led by ASP Asare did not oppose to the bail application but prayed the court to take into consideration the nature of the case and the quantum of money involved.
The court presided over by Jane Harriet Akweley Quaye, granted him bail of GH¢ 1 billion with five sureties.
Three of the sureties are to be justified.
He is also to report to the police every Wednesday.
The case continues August 12.
BY Gibril Abdul Razak