The Director of Communication of Menzgold, Nii Armah Amartefio, told Accra-based Class that “We met all the bail conditions, he is a free man now. As a speak to you now, he is on his way home.”

Nana Appiah Mensah who is popularly referred to as NAM 1 was released on Tuesday (August 6, 2019) afternoon after an Accra High Court, presided over by Harriet Naa Akweley Quaye maintained the bail sum at a cost of GHC1 billion but varied the surety conditions of the earlier court ruling.

She said the businessman is supposed to provide five sureties but none to be justified.

NAM1’s lawyers had earlier appealed to the court to vary his bail condition by reducing the GHC1billion amount. He was also to provide five sureties three of which were to be justified.

His lawyers later submitted all documents to the court registry after which he was granted bail.

NAM1 is standing trial and has been charged with two counts of abetment to defraud by false pretense and two counts of abetment to carry out banking business without a licence, contrary to Section 6 (1) of the Banks and Specialised Deposit-taking Institutions Act, 2016 (Act 930).

The case has been adjourned to 3 September 2019.