Nana Appiah Mensah aka NAM1
The woes of the Chief Executive Officer of
Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1, seem to be compounding as
he is said to be struggling to execute the GH¢1 billion bail granted him last
week.
It has been one week since an Accra Circuit
Court, where he was dragged to, on conspiracy to defraud and other charges,
granted him bail but he is still in custody.
The trial of NAM1 commenced at an Accra Circuit
Court where he together with his wife Rose Tetteh and his sister Benedicta Appiah,
both at large, are facing a total of 13 counts of defrauding by false pretences,
money laundering, abetment and carrying on deposit-taking
business without licence.
His companies – Menzgold Ghana Limited and Brew
Marketing Consult Limited – have also been charged with seven counts of
defrauding by false pretences, and carrying on deposit-taking business without
licence.
NAM1 pleaded not guilty to all the charges and
the court, presided over by Jane Harriet Akweley Quaye, granted him bail to the
tune of GH¢1 billion (about $185 million) with five sureties, three of which
are to be justified.
Additionally, he was ordered by the court to
report to the police every Wednesday.
Checks by DAILY GUIDE indicate that NAM1 is
still in the custody of the police while his legal team and staff are fervently
working to get him out.
Meanwhile, a statement issued by his company
indicated that as of last Friday when the bail was granted to him, his team has
been able to get all five sureties and the three to be justified have also
submitted various documents to prove ownership.
It said documents covering the properties were
submitted to the Lands Commission, and the commission is conducting a search to
ensure the properties being used belong to the sureties and have the value of
the bail terms.
“As we speak, all three landed properties have
been submitted by the team. The search, validation and valuation are in
process,” the statement noted.
It said once the validation is done, his legal team would go to the registrar of the court to execute the bail.
BY Gibril Abdul Razak
