ASP Abednego Atsah, heading the investigation in the trial of Michael Nyinaku, founder of the defunct Beige Bank, has testified in the Accra High Court that his investigation did not find evidence of Nyinaku personally receiving or misusing funds from counts one to nine of the charges.
The 5th Prosecution Witness (PW5), ASP Atuah, confirmed that throughout the investigation, there was no indication that Nyinaku had directly received payments as indicated by the records presented during the inquiry.
Testifying in the Financial and Economic Division of the Accra High Court, ASP Atsah reassured that the charges brought against Nyinaku, which include nine counts of stealing, 25 counts of fraudulent breach of trust, and nine counts of money laundering, were based on his association as a shareholder or director of companies to whom funds were allocated.
During cross-examination led by defense lawyers, including Lawyer Thaddeus Sory, ASP Atsah maintained that the prosecution’s charges were formulated based on Nyinaku’s affiliation with the companies involved.
While Count One of the charges alleges that Nyinaku stole funds belonging to Beige Bank and transferred them to Alberry Company Limited, ASP Atsah clarified that his investigation showed the funds originated from First Africa Savings and Loans (FASL) and were transferred to Alberry.
Cross-examination revealed that all funds transferred to Alberry were disbursed for legitimate services, with no evidence of payments made to Nyinaku.
The ongoing testimony seeks to substantiate the charges leveled against Michael Nyinaku in the trial.