A Chartered Accountant who is testifying as the First Defence Witness for the founder of the defunct Beige Bank, Michael Nyinaku, has told the High Court in Accra that he has provided “all the information about the financial position of the bank” to the Receiver of Beige Bank.
Dawda M. Hafisdeen, also a lawyer, told the Court that, he worked as leader of the financial team of the bank which was placed in Receivership for three months between August and October 2018.
The Witness made this known to the Financial and Economic Division of the High Court in Accra presided over by Justice Afia Serwah Asare-Botwe, a Justice of the Court of Appeal sitting as an additional High Court judge when he was facing cross-examination from State Prosecutors.
Mrs Evelyn Keelson, a Chief State Attorney, had put to him during cross-examination that, he was in the position where he had the opportunity to provide the Receiver with all the required information particularly connected to the financial position of the bank.
The Witness while agreeing with the Chief State Attorney, Mrs Keelson, added that, “I did provide all the information about the financial position of the bank including most of the issues that are contained in my present witness statement.”
The former Chief Executive Officer (CEO) of the defunct Beige Bank Limited, Michael Nyinaku, who is mounting defence to charges had told the Court that he would be calling 61 witnesses.
The founder of the defunct bank has been charged with stealing, fraudulent breach of trust and money laundering and pleaded not guilty.
Prosecution had closed its case after calling five witnesses.
In Court on Monday, April 8, 2024, the First Witness Hafisdeen, concluded his Evidence-In-Chief which started on March 25 after being led by Thaddeus Sory, Counsel for the Accused.
The case has been adjourned to April 15, 2024.
Cross-examination of First Defence Witness by Mrs Evelyn Keelson on April 8, 2024
Q:Can you confirm that the statement Exhibit 70 which is dated 13th March, 2020 to the SIT was the only statement you gave to the SIT?
A: I do not exactly remember because I appeared before the SIT a couple of times and I also signed another statement, I do not remember whether it was a caution statement because at a point I had to get someone to come and sign sought of a bail bond for me so I do not remember whether it was a caution statement or not.
Q: In your statement Exhibit 70, all you said to the SIT in Exhibit 70 had to do with the vouchers you used in processing the various transactions?
A:Yes my lady. I was given a lot of vouchers but I do not remember the individual transactions and I was asked if the transactions there are familiar to me and I said Yes and I also enquired what they want me to write about them and they indicated that I could write what I have said that the vouchers are familiar to me and some of the vouchers that we used in processing transactions at the bank.
Q: And these vouchers that you spoke about in your statement were vouchers which were processed based on approvals given by the accused who was CEO, is that not so?
A: That is so.
Q: The accused person was Managing Director and CEO of the Beige Bank and CEO of the Beige Group, is that correct?
A: That is so.
Q: And as you have stated, the accused person together with the Beige Group were the shareholders of the Beige Bank?
A: That is so my lady.
Q: After the bank had been placed in receivership, you worked closely with the Receiver between August 2018 and October 2018 which was about three months?
A: That is so my lady.
Q: In fact, you did not just work with the Receiver, you were the leader of the financial team of the bank which had been placed in receivership?
A: That is so my lady.
Q: In fact even after the three months, the Receiver still contacted you for any clarification on relevant matters of the Receiver’s work?
A: That is so my lady. From time to time, they would call me and enquire on specific matters and I would usually provide answers or explanations to the best that I knew or could remember.
Q: I am putting it to you that you were in the position where you had the opportunity to provide the Receiver with all the required information particularly connected to the financial position of the bank.
A: Yes my lady, that is so and I did provide all the information about the financial position of the bank including most of the issues that are contained in my present witness statement.
Q: Are you aware that the Receivership engagement between the Receiver and Bank of Ghana (BOG) was set out by law?
A: Yes my lady, I am aware that the receivership is regulated by law but I do not know whether there was any detailed engagement specifically between the BOG and the receivership or it was just regulated by law.
Q: So, you do not know specifically what the agreed upon procedures were between the BOG and the Receiver?
A: No my lady, I do not know.
Source: Ghana/Starrfm.com.gh/Murtala Inusah
