The embattled Chief Executive Officer of Menzgold, Nana Appiah Mensah aka NAM1, has been released from police custody after meeting his bail conditions.

NAM1 was freed at about 4 pm on Tuesday, August 6, 2019, according to the Public Relations Officer (PRO) of Menzgold, Nii Amarh Amarteifio.

 

He was released around 4 pm after five persons guaranteed his bail as sureties at the Accra Circuit Court Registry.

 

The Accra Circuit Court on Tuesday morning varied the bail conditions of NAM1 by removing the condition that the sureties must show evidence of owning properties worth the bail sum of Gh¢1billion, reports Graphic Online's court reporter, Emmanuel Ebo Hawkson

 

The court, however, did not change the bail sum of Gh¢1 billion.

 

NAM 1 is standing trial over allegations of defrauding more than 16,000 people of Gh¢1.6billion.

 

The court presided over by Mrs Jane Harriet Akweley Quaye, varied the bail terms Tuesday morning - August 6, 2019 - following an application by counsel of NAM 1, Mr Kwame Boafo Akuffo.

 

Bail

 

On July 26, 2019, the court granted NAM 1 bail in the sum of Gh¢1billion with five sureties, three to be justified.

 

He was also ordered to report to the police every Wednesday.