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Nana Appiah Mensah, aka NAM1<\/strong><\/p>\nAn Accra Circuit Court has made a slight adjustment in the terms of bail conditions it set for the beleaguered Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah, aka N"},"modified":"2019-08-07T14:02:28","modified_gmt":"2019-08-07T14:02:28","slug":"nam1-bail-terms-change","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/08\/07\/nam1-bail-terms-change\/","title":{"rendered":"NAM1 Bail Terms Change –"},"content":{"rendered":"
<\/p>\n
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Nana Appiah Mensah, aka NAM1<\/strong><\/p>\nAn Accra Circuit Court has made a slight adjustment in the terms of bail conditions it set for the beleaguered Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1.<\/p>\n
Although the court, presided over by Harriet Akweley Quaye, maintained the hefty bail sum at GH\u00a21 billion, three of the five sureties are no longer to be justified as ordered earlier.<\/p>\n
What it means is that the three sureties no longer have to collectively show proof of properties worth the bail sum.<\/p>\n
The adjustment of the bail terms followed an application filed by lawyers of NAM1 begging the court to vary the terms of bail granted him, describing it as excessive.<\/p>\n
Main Trial <\/strong><\/p>\nNAM1 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.<\/p>\n
His companies \u2013 Menzgold Ghana Limited and Brew Marketing Consult Limited \u2013 have also been charged with seven counts of defrauding by false pretences and carrying on deposit-taking business without licence.<\/p>\n
NAM1 on July 26 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\u00a21 billion (about $185 million) with five sureties, three of which are to be justified.<\/p>\n
Additionally, he was ordered by the court to report to the police every Wednesday.<\/p>\n
Custody <\/strong><\/p>\nHe has since been in custody as he was unable to execute the bail granted him by the court.<\/p>\n
His company had earlier in a statement claimed that all the five sureties including those to be justified were ready and they were in the process of verifying the properties used for the justification of the bail.<\/p>\n
Variation<\/strong><\/p>\nHis lawyers led by Kwame Boafo Akuffo later filed an application begging the court to reduce the terms of bail, arguing that NAM1 himself is not worth the sum of GH\u00a21 billion.<\/p>\n
Moving the application yesterday, the lawyer pleaded with the court to reduce the bail to GH\u00a25 million which he said is \u201creasonable\u201d.<\/p>\n
\u201cThat under the circumstances and considering the fact that 3rd accused\/applicant (NAM1) made a voluntary return to the jurisdiction, it is respectfully prayed that the bail bond be reduced to GH\u00a25,000,000 which is a realistic and reasonable burden to impose on the 3rd accused\/applicant\u00a0\u00a0 whose entire assets and revenue streams have been taken over by the government,\u201d the application noted.<\/p>\n
The prosecution, led by ASP Sylvester Asare, did not oppose the application but raised concerns about NAM1\u2019s lawyers suggesting the bail terms to the court.<\/p>\n
After listening to both sides, the presiding judge maintained the sum of GH\u00a21 billion but removed the condition of three out of the five sureties to be justified.<\/p>\n
The matter was adjourned to September 3.<\/p>\n
BY Gibril Abdul Razak<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"Nana Appiah Mensah, aka NAM1 An Accra Circuit Court has made a slight adjustment in the terms of bail conditions it set for the beleaguered Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah, aka NAM1. Although the court, presided over by Harriet Akweley Quaye, maintained the hefty bail sum at GH\u00a21 billion, three […]<\/p>\n","protected":false},"author":1,"featured_media":674753,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-674752","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"yoast_head":"\n
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