The Accra Circuit Court has granted bail in the sum of Gh₵1billion with five sureties to the Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah aka NAM1.

The court, presided over by Mrs Jane Harriet Akweley Quaye, ordered that three of the sureties must provide justification while NAM 1 must also report to the police every Wednesday

Prosecutors have charged NAM1, his wife and sister and his two companies – Menzgold and Brew Marketing Consult with 13 counts ranging from abetment to defraud by false, pretense, defrauding by false pretense, engaging in money deposit business without license, dealing in gold without license and money laundering.

NAM 1 was granted bail after his lawyer Kwame Akuffo, moved a bail application

Counsel argued that his client was not a flight risk and would always avail himself to stand trial.

He also prayed the court to take into consideration when granting bail that almost all the assets of his client had been confiscated by the state and, therefore, the court should grant him bail in favourable terms.

NAM 1 appeared in court in a black suit and white shirt looking very quiet and occasionally smiling at lawyers and sympathizers in the courtroom

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