Nana Appiah Mensah, aka NAM1<\/p>\n
The Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah, aka NAM1, is set to hold a crunch meeting with the management of his companies to address issues concerning the customers whose funds have been locked up with the gold collectible company.<\/p>\n
This would be the first time NAM1 would be meeting the management of his firms since December last year when he left for Dubai in connection with a $51 million case for which he was detained for months.<\/p>\n
According to the Public Relations Officer of Menzgold, Nii Armaah Amarteifio, their embattled CEO would be given some time to rest following his release from police custody where he had been remanded since early last month.<\/p>\n
He told Accra-based\u00a0Citi FM\u00a0yesterday that \u201cNAM1 is tired so the next step for him now is to get some rest and after that we will have a meeting with him as management to see the way forward.\u201d<\/p>\n
He said after resting, NAM1 would hold a meeting to, among other things, outline the way forward for Menzgold and deliberate on how customers of the company can be paid their investments.<\/p>\n
Trouble Times<\/p>\n
Most customers of the gold dealership firm who have been seething with anger since his absence from Ghana sometime in December have been waiting impatiently for his arrival.<\/p>\n
He arrived in the country on July 11, 2019 and was arrested by the police for crimes relating to the operations of his companies.<\/p>\n
Trial<\/p>\n
He has since been put before an Accra Circuit Court along with his sister and wife charged with 13 counts of defrauding by false pretences, money laundering, abetment and carrying on deposit-taking business without licence.<\/p>\n
They are facing six counts of defrauding by false pretences, abetment, money laundering and carrying on deposit-taking business without licence.<\/p>\n
His companies \u2013 Menzgold Ghana Limited and Brew Marketing Consult Limited \u2013 have also been charged with seven counts of defrauding by false pretences and carrying on deposit-taking business without licence.<\/p>\n
NAM1 on July 26 pleaded not guilty to all the charges and the court, presided over by Jane Harriet Akweley Quaye, granted him bail to the tune of GH\u00a21 billion (about $185 million) with five sureties, three of which are to be justified.<\/p>\n
Additionally, he was ordered by the court to report to the police every Wednesday.<\/p>\n
He was, however, unable to meet the terms of the bail and had been in police custody until August 6 when his lawyers applied to the court to vary the terms of the bail.<\/p>\n
The court maintained the sum of GH\u00a21 billion but removed the condition of three of the five sureties to be justified.<\/p>\n
NAM1 has since been able to execute the bail and was released from custody.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nana Appiah Mensah, aka NAM1 The Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah, aka NAM1, is set to hold a crunch meeting with the management of his companies to address issues concerning the customers whose funds have been locked up with the gold collectible company. This would be the first time NAM1 would […]<\/p>\n","protected":false},"author":66,"featured_media":834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[417,472,471],"class_list":["post-833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-ghananews","tag-menzgold","tag-nanaappiah"],"yoast_head":"\n