Menzgold boss NAM1 denied bail; set to appear in court

Menzgold boss NAM1 denied bail; set to appear in court

- CEO of Menzgold Nana Appiah Mensah has been denied bail following his arrest few minutes after his arrival in Accra

- The embattled CEO is set to appear in court tomorrow July 12, 2019 concerning the saga surrounding his gold dealership firm Menzgold

- He will reportedly be spending the night at the Criminal Investigations Department headquarters

CEO of Menzgold and Zylofon Media, Nana Appiah Mensah, has been denied bail by the Criminal Investigations Department following his arrest few hours after his arrival at the Kotoka International Airport.

According to reports, the embattled CEO will be appearing before a court tomorrow Friday July 12, 2019.

READ ALSO: Shatta Wale reacts to NAM1's arrival to Ghana

In a report sighted by YEN.com.gh, the police Criminal Investigations Department confirmed their denial of bail for NAM1.

The reports revealed that after he was picked up at the Kotoka International Airport, his lawyers tried to secure a bail for him.

The lawyers were said to have followed up to the CID headquarters so they could secure a bail for their client which was consequently denied.

The quest for bail followed his arrest at the airport few minutes after his arrival from battling a court case in Dubai.

NAM1 was said to have been arrested in Dubai amid a court case involving his company and another company.

READ ALSO: First photo of NAM1 after his arrival in Ghana today

After months of staying in Dubai, he was said to have won the case as the company was asked by the court to pay him a whooping $38 million.

It has been almost a year since Nana Appiah Mensah became unstable following the closure of his company.

The Securities and Exchange Commission asked him to shutdown his gold dealership firm amid licensing issues.

After the company was shutdown, customers agitated that their investment be refunded back to them.

However, their cash has not been refunded following news that the cash is locked up with another company in Dubai.

READ ALSO: Price list of Mama Gee's charm herbal products pop up

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Source: Yen

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