Menzgold Saga: NAM 1 granted Ghc1 Billion Bail

An Accra Circuit Court has granted a GHc1 billion bail to CEO of Menzgold, Nana Appiah Mensah a.k.a NAM 1.

The Zylofon Media boss arrived in court at about 9.15 am beaming with smiles.

He pleaded not guilty to all the thirteen (13) count charges read to him in court.

These include, but nit limited to money laundering, defrauding by false pretense, and unlawful taking of deposits.

The complainant Mr Francis Agodzie told the court that NAM 1 has defrauded him and other 16,000 customers of the gold dealership. As a result, he prayed the court rule in their favour so they get paid.

Lawyer Akuffo however informed the court that the amount is high. He also noted that business executive didn’t run away from Ghana but was in Dubai to collect his monies. And upon his return, he was apprehended at the airport.

The judge placed a GHc1 billion bail with five (5) sureties,  three (3) to be justified.

The embattled business executive is supposed to report to the Police every Wednesday at 10am.

More to follow soon.

Source: Yaw Sarpong |


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