The Chief Executive Officer of Menzgold, Nana Appiah Mensah is still being held in police custody despite being granted bail by an Accra Circuit court last week.
This is because he has not been able to meet the GH¢1 billion bail and related conditions given by the court.
The court, as part of the bail conditions, said he was to present five sureties, three of whom must be justified but Nana Appiah Mensah, popularly known as NAM1 was unable to deliver on those requirements.
His lawyers, during the court proceedings, pleaded that the bail conditions be stepped down since all of NAM1’s properties had been confiscated by the state.
But the court declined the plea.
Management of Menzgold confirmed NAM1’s continued stay in Police custody to Citi News and said plans are far advanced to file for a review of the bail conditions.
Meanwhile, some aggrieved customers of Menzgold who have been pressing for assistance to help them retrieve their locked up investment are calling on the court to review the bail conditions.
A spokesperson for the group, Frederick Forson told Citi News in an interview that; “It appears the conditions attached to the bail is just too high and that is why as at now, NAM1 is still not out. He’s not been able to fulfil the conditions attached to the bail granted by the court. We believe that if the court or the police can do something about this, they should. That is what we are calling for.
NAM1 has been slapped with 13 counts of defrauding by false pretences, money laundering, abetment and carrying on deposit-taking business without licence contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).
Nana Appiah Mensah arrived in Ghana on July 11, 2019 where he was picked up by security operatives at the Kotoka International Airport and sent to the Criminal Investigations Department (CID) of the Ghana Police Service for interrogation after spending several months in Dubai in another legal battle.
NAM1 accused of bagging GHc1.68bn from customers
Nana Appiah Mensah has been accused of defrauding his customers of about GHc1.68 billion.
According to the charge sheet, the money was from 16,000 people who invested a total of GHc1,680,920,000 in the company.
The charge sheet indicated that Mr. Appiah Mensah’s two companies — Brew Marketing Consult and Menzgold Ghana Limited; represented by him, have also been charged with defrauding by false pretence, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29).
Mr. Appiah Mensah’s sister and his wife, Benedicta Appiah and Rose Tetteh, have also been charged with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without a licence, contrary to Section 6 (1) of Act 930.
The charge sheet explained that the accused persons purportedly aided Brew Marketing Consult and Menzgold to defraud the customers.
Provide list of NAM1’s alleged 16,000 accusers – Lawyer to Prosecutors
Lawyer for NAM1 had earlier challenged the State to provide the list of the alleged 16,000 complainants who claimed that they have been defrauded by his client.
NAM1 through his lawyer Kwame Akuffo during the court hearing on Friday indicated that he will demand the state to list all the 16,000 persons who are said to be complainants in the case brought by the state.
According to the lawyer, it is a requirement for an accused person to know his accusers to be able to defend himself.