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The lawyers for Menzgold's chief executive (CEO), Nana Appiah Mensah, have filed an application to change the surety of 1 billion GH ¢ and related conditions set by the court.
The court ignored the initial plea of its lawyer, Mr. Kwame Akuffo, claiming that the amount be reduced, which allowed NAM1 to be kept in custody.
Menzgold's CEO, known as NAM 1, is still in custody, although an Accra court's bail court last week granted bail.
His continued stay in the police cell is due to his inability to comply with bail conditions of one billion GH ¢, with five bonds.
The bond was granted by Mrs. Jane Harriet Akweley Quaye, who presided over the case at the Accra Circuit Court on July 26, 2019.
In accordance with the bail conditions ordered by the court, three of the sureties must be justified, while NAM 1 must also report to the Ghana Police Service every Wednesday.
Yesterday, ghanacrusader.com has reported a disclosure by reliable sources of imminent re-examination of the bail conditions of Nana Appiah Mensah, who is the subject of a lawsuit. a lawsuit for defrauding through false pretenses and a reduction aimed at banking without a license.
Two accomplices, the wife of NAM1 and the sister detained
Although NAM1 is in Ghana, accused of defrauding under false pretenses and abandoning banking activities without a license, his two accomplices, his wife, Rose Tetteh, and his sister, Benedicta Mensah, were untraceable. .
Prosecutors accused NAM1 and the two accomplices of being Menzgold's main officers and using the company as a means of defrauding more than 16,000 people for a total of 1,680,920,000 GH ¢.
The three accused, Menzgold and his sister company, Brew Marketing Consult Limited (both represented by NAM 1), were charged with 13 counts.
Nana Appiah Mensah arrived in Ghana on July 11, 2019, where he was picked up by security agents at Kotoka International Airport and sent to the Criminal Investigation Department (CID) of the Ghana Police for interrogation after spent several months in Dubai in another legal battle.
Menzgold Customers Storm Court
Some disgruntled customers of Menzgold besieged last week the premises of the Accra Circuit Court to demand the release of Nana Appiah Mensah.
Menzgold's investors said their presence in the court's premises was due to the fact that the CEO of distressed gold distribution company Menzgold had their money, which they desperately needed.
The Menzgold saga is arguably the biggest case of fraud since 1995 when Pyram Business Consultancies's Tanko Rahman Shadow cheated hundreds.
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