NAM1 finally granted bail; released from police custody

Pulse Staff

August 6, 2019 6:37 PM

Embattled Chief Executive Officer of gold dealership company, Menzgold, Nana Appiah Mensah (NAM1) has finally been released from police custody after meeting bail requirements Tuesday, August 6, 2019.

Nana Appiah Mensah

His released was confirmed by director of communications of Menzgold, Nii Armah Amartefio.

“We met all the bail conditions, he is a free man now. As a speak to you now, he is on his way home,” he told Class FM in an interview.

Nana Appiah Mensah was granted bail on July 26, 2019, but had been in police custody due to his inability to meet the conditions including GHc 1 billion bail bond with five sureties of whom three are to be justified.

Prior to the release, his lawyers claimed the bail conditions were unfair and pleaded with the court for a review.

His lawyer Kwame Akuffo prayed the court to reduce the bail bond to GHc five million.

NAM1 is standing trial and has been charged with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without licence, contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).

The case has been adjourned to 3 September 2019.

Pulse Staff