NAM1 Denied bail; Case Adjourned to July 26

The CEO of Menzgold, Nana Appiah Mensah has been remanded to two weeks in Police custody by an Accra Circuit court.

The embattled CEO is on trial for 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 the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).

Nana Appiah Mensah was put before court on Friday. The case has been adjourned to July 26, 2019.

Nana Appiah Mensah arrived in Ghana on Thursday where he was picked up by security operatives at the Kotoka International Airport and sent to the Criminal Investigations Department (CID) of the Ghana Police Service for interrogation.

He spent the night in police custody after he was denied bail.

He had spent the last six months in police custody in Dubai due to a criminal case brought against him by a private company in that country.

An INTERPOL red alert notice was placed on him by the government of Ghana making it impossible for the United Arab Emirates authorities to release him from their custody after he won the case in a court in Dubai.

He had been declared wanted in Ghana over allegations of fraud brought against him by some persons who invested in his gold dealership company, Menzgold.

Hundreds of customers have not been paid their dividends or principals amid fears Menzgold was a Ponzi Scheme.

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