Former Chief Executive Officer of defunct Beige Bank Limited, Mike Nyinaku, has been granted a bail of GHC 200 million by the Financial and Economic Crimes Division (Court 2) of the Accra High Court.
His lawyer, Addo Attuah, pleaded with the court to grant him bail and stated that the facts brought by the prosecution are not substantial when Mr. Nyinaku appeared before the Accra High Court today and pleaded not guilty to all charges against him.
Lawyer Addo Attuah further promised the court that his defendant would not obstruct the investigations, as they have also never defaulted whenever the court needed them.
The presiding judge over the case, Justice Afia Serwah Asare-Botwe, granted Mr. Nyinaku a bail of GHC 200 million and three sureties, of which two must be justified, and adjourned the case to December 22, 2022.
The properties used as collateral for the bail need to be valued by the Land Valuation Division of the Lands Commission or Architectural and Engineering Services Limited (AESL). He is also to deposit his passport at the court registry and report to the police every Monday and Friday.
Mr. Nyinaku is facing charges of stealing on nine (9) separate charges (Act 29) in violation of Section 124(1) of the Criminal and Other Offenses Act, 1960.
In addition, 26 counts of fraudulent breach of trust in violation of Section 128 of the Criminal and Other Offenses Act, 1960, have been brought against him (Act 29).
Eight more counts of money laundering in violation of Section 1(2)(a)(ii) of the Anti-Money Laundering Act of 2020 (Act 1044) have been brought against the troubled former bank executive.
