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NAM 1 granted GH¢1bn bail

An Accra High Court has granted bail to embattled Chief Executive Officer of gold dealership firm, Menzgold , Nana Appiah Mensah popularly known as NAM 1.

NAM 1 was admitted to bail in the sum of 1 billion cedis with 5 sureties, 3 of which must be justified.

The case has been adjourned to August 12.

Aggrieved customers of Menzgold Company Limited stormed court as the embattled Chief Executive Officer of the firm, Nana Appiah Mensah aka NAM 1 appeared in court on Friday, July 26th, 2019.

The irate customers wielded placards with inscriptions such as “23 people dead in Menzgold saga”, “suspend criminal charges against NAM 1”, “help NAM 1 to retrieve Dubai money”, “no money for school fees and medical bills”, among others.

Nana Appiah Mensah was on 12th July 2019 remanded into police custody after he appeared before the court.

The court granted the order after the police requested for two weeks to enable them complete investigations into allegations against NAM 1, as he is popularly known.

Police say the court process is in pursuance of the cases that have been filed against him by disgruntled Menzgold customers.

The irate Customers contend the mere prosecution of NAM 1 won’t serve their interest in this matter, adding he must be released for him to settle their locked up investments.

At least GH¢200 million of depositors cash is believed to be held up at the collapsed gold dealership firm-Menzgold.

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