Private legal practitioner and journalist, Samson Lardy Ayenini has disclosed that the ability of embattled Chief Executive Officer (CEO) of Menzgold, Nana Appiah Mensah alias NAM 1 to meet the bail conditions suggests he will be capable settling his indebtedness to his numerous clients.
An Accra Circuit court on Friday July 26, 2019 presided over by Jane Helen Akweley Quaye granted NAM 1 GH¢ 1 billion bail with five sureties three of whom must be justified.
But reacting to the bail on his Facebook page sighted by MyNewsGh.com, the host Joy Fm’s news analysis programme, Newsfile wrote “Pray – His ability to fulfill these bail conditions should signal a potential capacity to pay his just debts. But what will be his alleged crimes, substantially, if he is able to pay his customers?
NAM 1 has charged for defrauding 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).
Two of his companies — Brew Marketing Consult and Menzgold Ghana Limited — represented by him, have each been charged with defrauding by false pretence, contrary to sections 20 (1) and 13 (1) of the Criminal Offences Act, 1960 (Act 29).
He has however pleaded not guilty to all the charges levelled against him.
He had been in custody in Dubai since last year but he recently won his court case against Dubai-based gold dealership firm, Horizon in the $39 million gold trial.