After series of court hearing and allegations leveled against Ghanaian businessman Nana Appiah Mensah, the Accra circuit Court has granted the NAM1 a bail of GHC 1billion
The court was presided by Jane Helen Akweley Quaye in a court hearing when Nam1 appeared for the commencement of his trial on Friday 26th July, 2019.
The CEO presented 5 surities, 3 of whom will be justified which led to his successful bail.
The CEO of embattled gold trading Menzgold has 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 the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).
Two of his companies — Brew Marketing Consult and Menzgold Ghana Limited — represented by him, have each been charged with defrauding by false pretence, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29).
Customers of Menzgold who have had their monies locked up as a result of the company being closedown besieged the court this morning, calling for NAM1’s release.
Customers have expressed a sigh of relief following the development of Nam1’s court hearing and are full of hope their monies will be paid back.