Former Project supervisor of The Beige Group, Obed Gyasi Appiah-Kubi, has submitted payment vouchers evidencing expenditures incurred in transitioning Beige Capital Savings and Loans (BCSL) into a universal bank.
To buttress his point that these projects indeed happened, he presented samples of paid vouchers to substantiate his assertions.
“I have provided and attached to my present statement a sample of pay vouchers serving as evidence of disbursements made in respect of the refurbishment work done on the offices of BCSL which existed before it transitioned into universal banking,” the 9th Defence Witness told the Court.
The former Project Supervisor also intimated to the Court that, the bank undertook “a lot of branch expansion projects” prior to it becoming a universal bank.
According to him, the projects involved the refurbishment of all the previously existing branches to reflect the institution’s newly acquired status and the construction of completely new offices.
“As part of preparations towards the transition of BCSL into universal banking, the bank undertook a lot of branch expansion projects all over the country.
“It was also his case that, Beige Capital Savings & Loans (BCSL) carried out numerous branch expansion projects as part of its transition to becoming The BEIGE Bank,” he stated.
He told the Court that, these projects involved the refurbishment of all the previously existing branches to reflect the institution’s newly acquired status and the construction of completely new offices.
“I know that Beige Capital Savings & Loans carried out numerous branch expansion projects as part of its transition to becoming The BEIGE Bank,” he told Justice Afia Serwah Asare-Botwe on Wednesday, June 5, 2024.
The witness also said, “the project involved refurbishing existing BCSL branches before BCSL obtained the universal banking license.”
Additionally, he said, there were also “new offices constructed for use by BCSL, which had transitioned into TBB.”
“I can confirm that these projects were completed through collaboration between several TBG departments and the bank itself.
“I was part of the projects department at TBG, which was responsible for preparing the offices for occupation before any interior and exterior setup work could begin.
“I can confirm that funding for the activities undertaken by my department came from the finance office of TBG,” Mr Appiah-Kubi told the Court.
He also confirmed to the Court that, “the payment vouchers attached to my present statement represent a sample of many of such pay vouchers evidencing payments being made for several projects that were supervised by my department in respect of existing branches of BCSL which had to be refurbished in order for them to meet the standards expected for universal banking operations.”
The Witness further stated that “ the expenditure report submitted by my department together with its related attachments were indeed the expenditures that accounted for funds received from TBG to be utilized in executing my department’s scope of work within the projects that were being executed on behalf of the bank.”
It was his testimony again that, at the time the bank was being placed under receivership, “there were still a lot of projects ongoing for the bank at various locations throughout the country.”
Mr. Nyinaku, the founder and Chief Executive Officer of the defunct bank has been charged for allegedly stealing GH¢2.1 billion of depositors’ money from the bank.
He has since pleaded not guilty to 43 charges including stealing, fraudulent breach of trust, and money laundering, and has been granted bail.
Find attached the full Witness Statement of DW 9
Source: Ghana/Starrfm.com.gh/Murtala Inusah
