Embattled Chief Executive Officer of defunct gold-trading firm Menzgold Ghana Limited Nana Appiah Mensah has been granted bail by an Accra Circuit Court.
He was granted the bail to the tune of GH¢1 billion on Friday, July 26.
The bail as announced by the judge, Jane Harriet Akweley Quaye, was with five sureties. Three of those sureties are to be justified.
NAM1, as he is popularly known, was also ordered to report to the police every Wednesday at 10:00am.
After reading the 13 charges to him by Justice Akweley Quaye, NAM1 pleaded not guilty to all.
Prior to the hearing, the premises of the circuit court was stormed by some aggrieved customers, who chanted ‘Free NAM1’ and carried several placards for their cause.
[📽Video] Aggrieved Menzgold customers storm the Accra Circuit Court.
— #TV3GH (@tv3_ghana) July 26, 2019
They want him freed in order for him to get the latitude to make arrangements to pay them back their locked-up investments.
NAM1 was charged together with his gold-trading firm, his marketing firm Brew Marketing Consult Limited, Rose Tetteh and Benedicta Appiah.
The last two are at large, however.
He arrived on Thursday, July 11 from the United Arab Emirates city of Dubai, where he has been since an arrest warrant was issued for him in 2018.
Nana Appiah Mensah is said to have collected a total of GH¢1.68 billion from 16,001 customers including one Francis Agodzie.
His lawyers led by Kwame Akuffo argued in court that their client has been kept in custody for nine months after a warrant was issued for his arrest; therefore, there is no compelling reason to keep him any longer.
Lawyer Akuffo argued that as of now he does not even know who the complainants are.
What is more, he told the court, he was not extradited by any court but he returned to Ghana on his own accord after the case in Dubai.
He, therefore, asked for a self-cognizance bail as all his assets to be used for the bail have been confiscated by the state.