NAM1 still in custody; unable to meet the GHc1bn bail requirement

General News of Thursday, August 1, 2019

Source: citinewsroom.com

2019-08-01

Menzgold's general manager, Nana Appiah Mensah, is still in custody, although she was released on bail by a circuit court in Accra last week.

Indeed, he was unable to meet the 1 billion GH ¢ bond and related conditions set by the court.

Under the conditions of bail, the court said it had to present five sureties, three of which must be justified, but Nana Appiah Mensah, better known as NAM1, does not have to pay bail. has not been able to meet these requirements.

During the course of the legal proceedings, his lawyers argued for a reduction in bail conditions, as all NAM1 property was confiscated by the state.

But the court refused the plea.

Menzgold's management confirmed that NAM1 was still being held in police custody at Citi News and that plans are well advanced to file an application for review of conditions of bail.

Meanwhile, some of Menzgold's injured clients who have asked for help to recover their locked-in investment are asking the court to review the bail conditions.

A spokesman for the group, Frederick Forson, told Citi News in an interview: "It seems that the conditions attached to the bond are too high and that is why, at the moment, NAM1 is still not out. He was unable to fulfill the conditions attached to the bail given by the court. We think that if the court or the police can do something about it, they should do it. That's what we call.

Context

NAM1 was struck with 13 counts of fraud under false pretenses, money laundering, conspiracy and unlicensed deposit operations, in violation of Article 6 (1). 1) of the Banks and Specialized Deposit Institutions Act, 2016 (Law 930).

Nana Appiah Mensah arrived in Ghana on July 11, 2019, where he was arrested by security officers at Kotoka International Airport and sent to the Criminal Investigation Department (CID) of the Ghana Police Service for interrogation. after spending several months in Dubai in another legal center. battle.

NAM1 accused of having cashed 1.6 billion GHc of customers
Nana Appiah Mensah has been accused of defrauding her clients for about 1.68 billion GHc.

According to the indictment, the money came from 16,000 people, who invested 1,680,920,000 GHc in society.

The statement indicated that the two companies of Mr. Appiah Mensah – Brew Marketing Consult and Menzgold Ghana Limited; represented by him, have also been charged with false pretense fraud, in violation of Articles 20 (1) and 13 (1) of the Criminal Offenses Act 1960 (Law 29).

Mr. Appiah Mensah's sister and his wife, Benedicta Appiah and Rose Tetteh, were also charged with two counts of false pretense fraud and two counts of attempted banking without a license, in violation of the law. Article 6 (1). of the Act 930.

The prosecution explained that the defendants allegedly helped Brew Marketing Consult and Menzgold to defraud customers.
Provide list of 16,000 alleged accusers of NAM1 – Attorney Attorney
The NAM1 lawyer had previously asked the state to provide a list of the 16,000 alleged complainants who claimed to have been defrauded by his client.

At Friday's hearing, NAM1, through its attorney, Kwame Akuffo, said it would ask the state to register all the 16,000 people who would be the plaintiffs in the case brought by the state.

According to the lawyer, the accused must know his accusers in order to defend himself.