Nana Appiah Mensah, popularly known as NAM 1, the Chief Executive Officer (CEO) of the defunct Menzgold Ghana Limited, has been granted bail to the tune of GH 500 million with four sureties, none of whom can be justified.
As part of the bail requirements, he has also been told to deposit his passport to the court registry.
This comes after he pleaded not guilty to 39 counts of fraud and money-laundering allegations against him, Menzgold Ghana Limited, and Brew Marketing Consult.
His lawyer, Kwame Akuffo, asked the court to uphold the condition of GH5 million without a reason, which was the bail he was granted in the circuit court where the case was initially heard before the state lodged a nolle prosequi.
While not opposing the request for bail, the state, as represented by Deputy Attorney General Alfred Tuah Yeboah, requested that the accused be required to deposit his passport.
Alfred Tuah Yeboah requested the court to take into account the amount of GH1.68 billion that was at stake.
Following consideration of the application, the judge granted bail in the amount of GH500,000,000 with four sureties, none of which had to be justified. Additionally, he has been told to show up at the CID headquarters every Thursday.
