Home / GENERAL NEWS / NAM1 granted GHS1bn bail

NAM1 granted GHS1bn bail

The embattled Chief Executive Officer (CEO) of gold dealership firm, Menzgold Ghana Limited, Nana Appiah Mensah (NAM1), has been admitted to a GHS1-billion bail bond by an Accra Circuit Court on Friday, 26 July 2019.

He is to provide five sureties.

Earlier, aggrieved customers of the now-defunct firm stormed the court with placards amidst chants of “free NAM 1”.

NAM1 made his second appearance in court on Friday after he returned from Dubai, where he was incarcerated for close to six months in connection with fraud allegations against him.

The court in Dubai cleared NAM1 of any wrongdoing after months of legal battle and ruled that Horizon Company Limited refund an amount of $39 million owed the Ghanaian businessman.

NAM1 was arrested by the Criminal Investigation Department of the Ghana Police Service as soon as he landed at the Kotoka International Airport on 11 July 2019 and taken into custody for alleged fraud.

Customers of Menzgold have called on the government to stop his prosecution to enable him pay his clients’ locked-up investment funds.

Class News’ Mercy Obeng-Akrofi reported that the courtroom was packed to capacity with heavy police presence for the hearing.

Source: Ghana/ClassFMonline.com

About Elvis Anokye

Check Also

Parliament goes ‘black’ in honour of Rawlings

Members of Parliament have held a memorial in honour of the late former President Jerry John Rawlings. With …

Call off strike; let’s return to the negotiation table – FWSC to Uni. Senior Staff

The Fair Wages and Salaries Commission (FWSC) has urged the Senior Staff Association to call …

Leave a Reply

Your email address will not be published. Required fields are marked *