Nana ASppiah Mensah aka NAM1
Embattled
Nana Appiah Mensah, aka NAM 1, Chief Executive of Menzgold Ghana Limited, has
said he will break his silence on issues that have led to
his incarceration on August 19.
He
posted on social media yesterday hinting that his companies would see a ‘possible
rebound’.
“I
will address the press on the 19th August, 19, regarding the state of affairs
of our companies, with final practical resolutions to all pending teasing
matters, geared towards a highly possible rebound soon. Stay tuned to Zylofon
FM & TV for updates (sic).” He
posted on social media platform Twitter and signed off with hashtag
“#GhanaShallProsper?”
Dubai Troubles
NAM
1 was in jail in Dubai from December last year until July after he was detained
there purportedly on a gold business trip.
He
was brought into the country by Dubai Interpol and handed over to its
counterpart in Ghana in July 12.
He
was released in Dubai because the courts in the Emirati country were said to
have declared that NAM 1 had not defrauded a company that made the claims and
was even said to have been awarded some $39 million to be refunded by the
complainant.
Upon
his arrival, he was arraigned at a Circuit Court in Accra for allegedly defrauding
some 16,000 people who invested a total of GH¢1,680,920,000 in Menzgold.
The
said investments have been locked up and the customers have not relented in
putting pressure on the authorities to get their monies back even though some
of the regulators have said Menzgold was not registered to do that kind of
business it was engaged in.
Full Charges
The
businessman, together with his wife Rose Tetteh and his sister Benedicta Appiah,
both of whom are at large, were then slapped with 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.
Plea & Bail
NAM
1 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 were to be justified.
Additionally,
he was ordered by the court to report to the police every Wednesday and the
court again ordered that the bench warrant which was issued last year for the
arrests of NAM1’s wife and sister who are still at large, should hold.
Harsh Bail Conditions
He
was, however, unable to meet the terms of the bail and was in police custody
until August 6 when his lawyers applied to the court to vary the terms of the
bail.
The court maintained the sum of GH¢1 billion but removed the condition of three of the five sureties to be justified and he was subsequently able to go home from the custody of the police.
By Gibril Abdul Razak
