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Why "MENZGOLD BOSS NAM 1 " is free to operate despite court charges.

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Why "MENZGOLD BOSS NAM 1 " is free to operate despite court charges.


The presiding judge, Mr Malike Wanya Day, granted the application for postponement and fixed October 23, 2019 as the next date for hearing.


In an oral application, an Assistant Superintendent of Police (ASP), Mr Sylvester Asare, prayed the court that it had become indispensably to amend the charge sheet.


He said he had agreed with the defence team to pray the court for a new hearing date in order to carry out the projected amendment.



It will be the second time the state is amending the charge sheet.


Seven charges were preferred against the accused persons when the case was first filed on July 12, this year. Afterwards, it added six more charges on July 26, bringing the charges to 13.


The embattled NAM 1 was discharged from police custody on August 17, 2019 after meeting his new bail conditions.


Sources close to the case told the Daily Graphic that Nana Appiah was released around 4 p.m. following the signing of his bail bond by five individuals at the Registry of the Accra Circuit Court.


Earlier, the court had diversified the bail conditions to allow for five sureties to guarantee his bail without showing evidence of having properties worth the GH¢1 billion bail sum.


The court, presided over by Mrs Jane Harriet Akweley Quaye, diversified the bail conditions following an application by Mr Kwame Boafo Akuffo, counsel for Nana Appiah.


It, however, refused a request by counsel for a reduction in the bail sum from GH¢1 billion to GH¢20 million.


Yet, the court had ordered, on July 26, 2019, that three of the five sureties should show proof that they had properties or interests worth the GH¢1 billion bail sum.

As part of the bail conditions, the Menzgold CEO was ordered to report himself to the Ghana Police Service every Wednesday.


With the court ejecting the justification aspect of the bail, Nana Appiah — who is standing trial over allegations that he used Menzgold to defraud more than 16,000 people of about GH¢1.6 billion — only needed five people who were gainfully employed to stand as sureties for him in order to suitably execute the bail.


“Under the circumstances, the court removes the justification set as condition for bail, but the bail sum remains the same,” the presiding judge had ruled.


Yet, Nana Appiah has pleaded not guilty to all the charges. 

His wife and his sister are, however, at large.


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Malike Wanya Day Sylvester Asare

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