Lawyers for embattled Menzgold CEO, Nana Appiah Mensah, NAM1 have applied for a variation to the GH¢1 billion bail and related conditions given by the court.
The application for a variation to the bail conditions follows the inability of NAM1 to meet his bail conditions eight days after a Circuit Court in Accra granted him bail.
The bail variation application if granted will mean a change in the bail conditions of NAM1.
The court presided over by Jane Harriet Akweley Quayeon on July 26, 2019, granted NAM1 a GHS1-billion bail bond.
He is to provide five sureties, three of which must be justified and also present himself to the police every Wednesday.
NAM1, who, together with four others, was facing eight counts of defrauding by false pretence, now faces 13 counts after the prosecution amended the charge sheet and added five more counts.
Bail conditions unfavourable
Menzgold in a statement described the bail condition as unfavourable and the figure involved as outrageous.
Portions of the statement read “as far as we are concerned, the bail conditions are not FAVOURABLE at all but we are determined to meet it. We think that figure is totally outrageous, especially when the figure involved in terms of debt we owe is far less than GHS1.68bn.â€
NAM1 will appear in court again on August 12, 2019.
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