Appearing in court on Tuesday, November 11, 2022, Mr Nyinaku pleaded not guilty to all the charges filed against him by the Attorney General.
Deputy Attorney General Alfred Tuah Yeboah informed the court that the accused person caused the transfer of a total of GHC320 million held in fixed deposit accounts with Beige Bank to Beige Capital Asset Management Limited (BCAM) without the knowledge and consent of the customers.
“Investigations also revealed that the accused person between the years 2017 and 2018, caused the transfer of 35 fixed investments of 23 customers of Beige Bank totalling ¢141, 042,348.92 to Beige Group, a company wholly owned by the accused and is the majority shareholder of Beige Bank,” Mr. Yeboah stated.
According to the defence, the alleged transactions were simply regular ones which were recorded.
Addo Attuah, therefore, prayed the court to grant his client bail, noting that the accused person has been cooperating with investigators for more than two years.
Justice Afia Asare Botwe, after hearing both arguments, granted the accused person bail in the sum of ¢200 million with three sureties, two of which must be justified.
The judge further ordered that the valuation of the properties owned by the sureties should be valued by a government valuation body, Land valuation authority and AeSL.
The court ordered that the accused person deposits his passport with the court and report to the prosecutor every Monday and Friday.
The case has been adjourned to December 2022, 2022.
Before adjourning the case, Justice Afia Asare Botwe gave the prosecution a December 9 deadline to file disclosures, failure of which the court will discharge the accused person.