<<Print>>

Assistant Superintendent of Police (ASP) Joseph Abednego Atsah, the investigator in the ongoing trial involving Michael Nyinaku, the founder of the defunct Beige Bank, has told the Accra High Court that his investigation does not reveal that the accused received or stole monies in person per the charges levelled against him.

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

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 cross-examinations on July 28, August 1st and August 2nd 2023 respectively by defence lawyers led by Lawyer Thaddeus Sory.

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

He has pleaded not guilty to all the charges.

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

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

In his evidence-in-chief as contained in his witness statement that has been adopted by the court, his testimony is expected to corroborate the Prosecution’s charges that have been leveled against Mr. Michael Nyineku.

Highlights of Cross Examination on Count 1

“Throughout all your investigations, did you find out if any of the funds transferred to Alberry (a company of which the accused is a Director) was ever paid to the accused person directly?” , Lawyer Sory asked the investigator.

In his response, ASP Atsah, said; “No my lady, there was no record or evidence of any funds being disbursed to the accused in his personal capacity  however our investigations revealed that the accused was a shareholder of Alberry Ltd, the entity that received the funds." 

It was the case of Mr Sorry that, under Count One of the charge sheet, the accused is alleged to have stolen an amount of GH¢5,240,000 described as the property of the Beige Bank which he (accused) caused it to be transferred to a related company called Alberry Company Limited.

Mr Sory further said; “If one is a Director or shareholder of a company, it does not mean monies paid to that company on account of transactions it has had with a third party can be said to have been stolen by a Director or shareholder of that recipient company."

ASP Atsah, in his response said, “Per the assertion of counsel, that is correct.”

Again, the witness confirmed that reviewing the bank statements of Alberry Ltd together with the underlying payment vouchers, there was no evidence that any payment of funds was ever made by Alberry to the accused.