Beige Bank boss never stole nor profited from illicit transactions – Prosecutor tells Court

Assistant Superintendent of Police (ASP) Abednego Atsah, the investigator in the case in which Michael Nyinaku, the founder of the defunct Beige Bank is standing trial, has told the High Court in Accra that, his investigation did not reveal that the accused in person, received or stole any monies as per counts one to nine of the charges levelled against him.

ASP Atuah, the 5th Prosecution Witness (PW5) said, “it is correct” that throughout his investigation, he did not find anything showing that the accused person was ever paid monies directly as per the records made available to him during the investigations.

The Investigator made this known to the Financial and Economic Division of the Accra High Court presided over by Justice Afia Serwah Asare-Botwe, a Justice of the Court of Appeal sitting as an additional High Court judge, during further cross-examination on July 28, August 1st and August 2nd 2023 respectively by defence lawyers led by Lawyer Thaddeus Sory.

Of the 43 charges that have been levelled against the accused, nine bother on stealing, 25 on fraudulent breach of trust and another nine bother on money laundering.

He has pleaded not guilty to all the charges.

ASP Joseph Atsah, admitted that, in all the nine charges which bother on stealing not a pesewa of the funds in question were found to have been disbursed to the accused in his personal capacity and neither was any evidence found that the accused benefitted directly from those funds.

However, in the view of ASP Atsah, the charges of stealing were preferred against the accused based simply on the fact that he was known as a shareholder or director to all the companies to whom funds were advanced.

In his Evidence-in-Chief as contained in his witness statement that has been adopted by the Court presided over by Justice Asare-Botwe, a Justice of the Court of Appeal sitting as an additional High Court judge, his testimony is expected to corroborate the Prosecution’s charges that have been leveled against Mr. Michael Nyineku.