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

This development follows the filing of new charges against him by the Attorney General, Godfred Yeboah Dame, on August 30.

Commonly known as NAM 1, the accused has been instructed to deposit his passport at the court registry as part of the bail conditions.

The Attorney General brought forth 39 counts of charges against NAM 1, including offenses such as money laundering abetment, defrauding by false pretense, carrying on deposit-taking without the requisite license, unlawful deposit-taking, and money laundering, among others.

This marks a reduction from the initial 61 charges that were initially brought against him.