CEO of defunct gold dealership firm Menzgold, Nana Appiah Mensah, has been granted bail to the tune of GH¢500 million with four sureties.

The accused, popularly known as NAM 1, has also been directed to deposit his passport at the court registry as part of the bail conditions.

This comes after Attorney General, Godfred Yeboah Dame filed new charges against him on August 30.

https://www.myjoyonline.com/menzgold-nana-appiah-mensah-arrives-in-court-to-face-ags-39-fresh-charges/

The AG slapped NAM 1 with 39 counts of offences including money laundering abetment, defrauding by false pretence, carrying on deposit-taking without the requisite license, unlawful deposit-taking and money laundering among other charges.

This is a reduction from the initial 61 charges brought against him.

• Menzgold: NAM1 pleads not guilty to money laundering, fraud, other charges

The Attorney General commenced investigations against NAM 1 in 2019 when he was accused of defrauding thousands of customers of millions of Ghana cedis through his gold dealership firm.

But the case witnessed several adjournments until fresh charges were filed on August 30, 2023.

The new charges came after Mr Appiah Mensah announced plans to unfreeze locked up funds of Menzgold customers after payment of ¢650 for verification.

https://www.myjoyonline.com/dont-compare-menzgold-to-dkm-nana-appiah-mensah/

However, NAM 1, has pleaded not guilty to all 39 charges.