NAM 1 receiving medical attention

The embattled CEO of Menzgold Company Limited Nana Appiah Mensah (NAM 1) is receiving medical attention and will address the public soon on matters relating to his business and the refund of locked-up funds to his customers, Head of Communications for Menzgold Nii Armah Amarteifio has said.

NAM 1 was released from police custody on Tuesday, 6 August 2019 after his legal team successfully executed all the bail conditions following the court's decision to vary the bail terms.

An Accra High Court, presided over by Harriet Naa Akweley Quaye maintained the bail sum at a cost of GHS1 billion but varied the surety conditions of the earlier court ruling. She said the businessman is supposed to provide five sureties but none to be justified.

A statement from Menzgold confirming NAM 1’s release from police custody said: “We wish to inform the public that the CEO is currently receiving urgent medical attention following the excruciating nine-month ordeal in Dubai and Ghana.

“In the face of the incessant calls for the CEO to address the public, we wish to assure our cherished customers that in due course he will address them on the way forward.”

NAM 1 is standing trial and has been charged with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without licence, contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).

He is to re-appear in court on 3 September 2019.