Days after a court granted embattled CEO of Menzgold, Nana Appiah Mensah bail to the tune of one billion cedis with five (5) sureties, Citinewsroom.com reports that he has been released.
His release means he has been able to meet at the conditions set forth in his bail.
Nana Appiah Mensah, also known as NAM1, has been the subject of investigations in Ghana and Dubai following allegations that he defrauded customers of his gold dealership firm. The allegations stem from the fact that the Bank of Ghana and Securities and Exchange Commission, both tasked with the regulation of the financial services sector have not given Menzgold the license to operate any form of deposit-taking business or investment products.
An earlier inquiry came to a halt when Nana Appiah Mensah was arrested in Dubai and charged with another case of fraud. He won the Dubai case and came down to Ghana to face regulators and angry Menzgold customers.
We will keep you updated on further developments.