Chief Executive Officer of Menzgold Ghana Limited, Nana Appiah Mensah has been granted a GH¢1 billion bail by an Accra Circuit court presided over by Jane Helen Akweley Quaye.
This was when he appeared in court Friday morning for the commencement of his trial.
The CEO of embattled gold trading Menzgold has been charged with two counts of abetment to defraud by false pretence 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).
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).
His sister and wife have also been slapped with two counts of abetment to defraud by false pretence and two counts of abetment to carry out banking business without licence contrary to section 6(1) of Act 930.
The two women who are said to have aided Menzgold to carry out the fraudulent acts are still at large as their whereabouts still remain a mystery to the police.