Embattled Chief Executive of Menzgold, Nana Appiah Mensah popularly known as NAM1 has been granted bail by an Accra Circuit court Friday.
Nana Appiah Mensah was admitted to bail in the sum of GHC 1 billion with five sureties.
The court ordered that three of the sureties of Nana Appiah Mensah should be justified.
This was when he appeared in court Friday morning for the commencement of his trial.
Joy News’ Joseph Ackah Blay who was at the court reported that his plea was not guilty.
The state according to report did not oppose or support the bail application.
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).
His sister and wife have also been slapped 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 Act 930.
The two women who are said to have aided Menzgold to carry out the fraudulent acts are still at large as their whereabouts still remain a mystery to the police.
Customers of Menzgold who have had their monies locked up as a result of the closedown of the company besieged the court this morning, calling for NAM1’s release.
Upon NAM1’s appearance at the court, the customers, holding various placards, began to scream “free NAM1, he is our hero”.