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Court grants NAM1 GHS500m bail over fraud charges

The CEO of the now-defunct Menzgold Ghana Limited, Nana Appiah Mensah, has been granted bail amounting to GH¢500 million, with four sureties required, and none of them needing to provide justification.

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As part of the bail conditions, he is also mandated to surrender his passport to the court registry.This decision follows Nana Appiah Mensah’s plea of not guilty to 39 counts of fraud and money laundering charges.

He is currently on trial alongside Menzgold Ghana Limited and Brew Marketing Consult.

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Nana Appiah Mensah’s lawyer, Kwame Akuffo, requested that the court maintain the bail condition of GH¢5 million without the need for justification, which had been previously set at the circuit court before the state entered a nolle prosequi.

The state, represented by Deputy Attorney General Alfred Tuah Yeboah, did not oppose the bail application. However, he requested that the accused be required to deposit his passport.

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Alfred Tuah Yeboah also urged the court to take into consideration the substantial amount of GH¢1.68 billion involved in the case.

After reviewing the application, the judge granted bail in the amount of GH¢500 million with four sureties, none of whom are required to justify their bail. Additionally, Nana Appiah Mensah must report to the CID headquarters every Thursday as part of his bail conditions.

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