Beige Bank

Beige Bank Disobeyed Bank Of Ghana – Prosecution
17 Apr

Beige Bank Disobeyed Bank Of Ghana – Prosecution

Wontumi1Business,
The Chief State Attorney (CSA), the prosecution in the ongoing trial of the former Chief Executive Officer (CEO) of the defunct Beige-Bank, has challenged Mr Hafisdeen M. Dawda, former Chief Financial Officer of the Bank’s defense witness. Mrs Evelyn Keelson, during cross-examination, said Beige Bank was afraid that writing off its investments would expose the true state of the Bank due to the depletion of investments. “As of July 2018, the BoG directed you to write off the investment. You knew you had lost the value of those investments, yet you sought to deceive BoG by giving a false picture…
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Beige Bank Trial: Almost All Companies That Received Over GH¢21.12m Belongs To Nyinaku — Investigator
08 Aug

Beige Bank Trial: Almost All Companies That Received Over GH¢21.12m Belongs To Nyinaku — Investigator

Wontumi2News
Assistant Superintendent of Police Joseph Abednego Atsha, the investigator in the trial of Michael Nyinaku, CEO of defunct Beige Bank says nine out of the 10 companies that ₵21,123,270 was transferred to were owned by the accused person. He said investigations revealed that the transfer was made to two other individuals. The witness said the amounts transferred by the accused to the nine companies are as follows: Alberry-GH₵5,240,000, DYI Limited -GH₵6,000,000, Legacy Pensions Trust-GH₵427,000, and Adelia Limited-GH₵1,010,000. The rest are Beige Acadamy-GH₵250,000, Beige Assur-GH₵627,000, Be Venture Ltd -GH₵1,740,000, Beige Care-GH₵392,000, and Beige Capital Limited-GH₵2,200,000. ASP Atsha, who is the fifth…
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Beige Group Acquired 90% Of The Shares Of FASL – Defence Lawyers Grill 4th State Witness
23 Jun

Beige Group Acquired 90% Of The Shares Of FASL – Defence Lawyers Grill 4th State Witness

Wontumi2Business
Former General Manager (GM) of First Africa Savings and Loans Limited (FASL) Kwabena Osei Bonsu (Rtrd) has been put to scrutiny over claims that he did not know Beige Bank had acquired 90% shares of FASL. Mr Osei-Bonsu is the fourth Prosecution Witness in the case in which Michael Nyineku, the founder of the defunct Beige Bank is standing trial for allegedly siphoning customers' funds. Michael Nyineku, the founder and Chief Executive Officer of the defunct bank, has been accused of allegedly siphoning customers' funds and has been charged for stealing GH¢2.1 billion of depositors’ money from the bank. He…
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