NAM1 released from police custody

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Embattled CEO of Menzgold Company Limited, Nana Appiah Mensah (NAM1) has been freed from police custody following the completion of the requirements for his bail.

Director of Communication of Menzgold, Nii Armah Amartefio, has confirmed.

He added: “ As a speak to you now, he is on his way home”.

NAM 1 was released in the afternoon of Tuesday, 6 August 2019, hours after an Accra High Court, presided over by Harriet Naa Akweley Quaye maintained the bail sum at a cost of GHS1 billion but varied the surety conditions of the earlier court ruling.

She said the businessman is supposed to provide five sureties but none to be justified.

Nam1’s lawyers had made an appeal to the court to vary his bail condition by reducing the GHS1billion amount. He was also to provide five sureties three of which were to be justified.

His lawyers later submitted all documents to the court registry after which he was let go.

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.

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