NAM 1 to address Media on August 19

Embattled Chief Executive Officer (CEO) of Menzgold Nana Appiah Mensah (popularly known as NAM 1) has announced he will address customers of the gold dealership company on August 19.

Nana Appiah Mensah gave the hint in a tweet.

In the tweet, the CEO assured that he will provide final practical resolutions to all “pending teasing matters, geared towards a highly possible rebound soon”.

He posted: “I will address the press on the 19th August,19, regarding the state of affairs of our companies, with final practical resolutions to all pending teasing matters, geared towards a highly possible rebound soon. Stay tuned to Zylofon fm & tv for updates.#GhanaShallProsper✊”.

Nana Appiah Mensah was granted bail on July 26, 2019, but had been in police custody due to his inability to meet the conditions including GHc 1 billion bail bond with five sureties of whom three are to be justified.

Prior to the release, his lawyers claimed the bail conditions were unfair and pleaded with the court for a review.

His lawyer Kwame Akuffo prayed the court to reduce the bail bond to GHC five million.

The prosecution did not oppose the plea for the variation of the bail but disagreed with the defence giving its own figure.

The court however in its ruling maintained the bail at a cost of one billion cedis but varied the surety conditions.

Background

Nana Appiah Mensah has been accused of defrauding his customers of about GHc1.68 billion.

According to the charge sheet, the money was from 16,000 people who invested a total of GHc1,680,920,000 in the company.

The charge sheet indicated that Mr. Appiah Mensah’s two companies — Brew Marketing Consult and Menzgold Ghana Limited; represented by him, have also been charged with defrauding by false pretence, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29).
 
Mr. Appiah Mensah’s sister and his wife, Benedicta Appiah and Rose Tetteh, have also been charged with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without a licence, contrary to Section 6 (1) of Act 930.

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