Lawyers of the Chief Executive Officer of Menzgold, Nana Appiah Mensah have applied for a variation to the GH¢1 billion bail and related conditions given by the court.
It is reported that Nana Appiah Mensah (known in showbiz circles as NAM 1) has been unable to meet the bail conditions despite being granted bail by an Accra Circuit court last week.
As a result, is still being held in police custody.
The court, presided over by Mrs Jane Harriet Akweley Quaye, on July 26 granted him bail in the sum of GH¢1 billion, with five sureties.
Per the bail conditions as ordered by the court, three of the sureties must be justified, while NAM 1 must also report himself to the Ghana Police Service every Wednesday.
The GH¢1 billion bail sum was received with surprise by Mensah, his lawyer, Mr Kwame Akuffo, and some of the sympathisers, who were in the courtroom.
Mr Akuffo pleaded with the court to reduce the amount but the presiding judge said under the circumstances and the amount on the charge sheet, she had been generous with the bail sum.
Prosecutors have accused Mensah, his wife (Rose Tetteh), and his sister (Benedicta Mensah) of being the principal officers of Menzgold, and using the company as a tool to defraud more than 16,000 people of GH¢1,680,920,000.
The three accused, Menzgold and its sister company, Brew Marketing Consult Limited (both represented by NAM 1), have been slapped with 13 counts.
The counts are defrauding by false pretences, abetment to defraud by false pretences, carrying deposit business without licence, abetment of sale of minerals without licence, sale of minerals without licence, abetment to the unlawful deposit-taking, unlawful deposit-taking and money laundering.
Mensah pleaded not guilty to all the charges. His wife and his sister are, however, at large.
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