The Accra High Court trying Michael Nyinaku, the former Chief Executive Officer (CEO) of the defunct Beige-Bank, has ordered prosecution to file disclosures in respect of reports by the fifth prosecution’s witness, Abednego Archer, by July 11, 2023.
The reports are in connection with investigations related to the Bank.
This followed a request by the Defense counsel, Mr Thaddeus Sory, to get those reports which were not attached to the witness’ statement, presented in court.
In a cross-examination, counsel wanted witness to confirm whether from the witness’ statement his investigation covered areas, including the suspicious account in the name of First African Savings and Loans (FASL), the transfer of customers’ deposits from Beige Bank to Beige Capital Asset Management (BCAM) to the supposed suspicious FASL account, related third party transactions, involving the Bank and witness confirmed it.
He asked whether during the investigations, witness collected documents in addition to interviews and interactions he had with those involved in the transaction. Witness confirmed that.
“You also talked about a suspicious FASL account, can you tell the Court when it was opened,” defence counsel asked.
Witness said Susanna Phillip, an official, indicated she had instructions from one Vanessa Atsu to open the account on March 14, 2018.
“If you look at the second page from about the seventh line, Susanna explained to the Special Investigation Team (SIT) where you, the witness were that the purpose of the account which you called suspicious was to receive placement from BCAM, is that correct?”
Witness said he confirmed from one Yvonne Phillips, a signatory to the account, and she affirmed that the account was opened for BCAM investment placement.
Nyinaku is being tried over an alleged GHC1.2 billion theft.
He has denied stealing the amount, fraudulent breach of trust and money laundering and is currently on a GHC200 million bail.
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