By
Joyce Danso, GNA
Accra Jan. 22, GNA –
A Circuit Court in Accra has directed the prosecution in the case in which
former defunct Beige Capital boss is being held for stealing and money laundering,
to file documents they intend to rely on for the trial.
The court further
directed the prosecution to ensure the accused Michael Nyinaku and his lawyers
were served with those documents by the next adjourned date.
The court presided
over by Mr. Emmanuel Essandoh made the orders after the accused person’s
lawyer, Baffour Gyawu Bonsu Ashia had prayed the court for pre- trial
disclosures in relation to the trial.
This would enable
them to prepare and put up their defence.
Assistant
Superintendent of Police (ASP) Emmanuel Nyamekye assured the court that they
would serve the accused persons and his lawyer documents they intend to rely
and same would be filed at the Court’s registry.
The court adjourned
the matter to February 5.
Nyinaku who is
facing the charges of stealing GH¢340 million allegedly belonging to depositors
and money laundering has denied the charges.
The court has
admitted him to bail in the sum of GH¢342million cedis with two sureties who
are public servants earning not less than GH¢2,000.00.
It further directed
the accused to deposit his passport with the Court’s Registry.
According to the
prosecution, ASP Nyamekye, in 2017, the BEIGE Group acquired a 90 per cent
stake in a savings and loans company known as First African Savings and Loans
(FASL) for $2.5 million.
According to him, as
part of the transaction, an account known as the FASL Operational Account was
opened at the BEIGE Bank.
He said as of the
time the BEIGE Bank went into receivership, the said account had about GH¢12
million in it, which was known to the leadership of FASL.
He said the BEIGE
Bank secretly opened another account in the name of FASL, which it used to
channel funds to its entities and cronies.
“The withdrawals
from the false FASL account were at the behest of Michael Nyinaku,” the
prosecution said.
The prosecution
further told the court that the said false FASL account had funds close to
GH¢340.94 million when it was initially opened, but some of the money was later
transferred.
ASP Nyamekye added
that the leadership of FASL was not aware of the second account in its name.
He said some of the
companies he caused the tranfers to made to includedBeifge Academy, Beige
Assure, Bidwest Micro Finanace,, Adelia limited,, Legacy Pennsion, DYI Limited,
Beige Capital Limited among others and individuals like Nnana Efia Evelyn Kyei
and Godwin Nnordjo.
The Prosecution told
the court that other investigations some aspects of the case were ongoing to
unravel many related issues to it.
GNA