GHANA: COLLAPSED BEIGE BANK CEO MIKE NYINAKU GRANTED BAIL

By: Freeman Koryekpor/www.africanakua.com, Ghana

An Accra Circuit Court has granted bail to the founder of the Beige Group, Michael Nyinaku who is facing charges of stealing and money laundering.

The bail granted by Justice Essandor was in the tune of GHS352 million with two sureties who earn not less than GHS2,000.

Mr. Nyinaku is also to deposit his passport and report to the investigative teams twice in a week.

The new decision follows the denial of bail three days ago by the same judge who explained that he was not convinced at the time by the arguments made by lawyers of the accused person.

Lawyers of Mr. Nyinaku represented by Thadeus Sory filed a new application for bail hence Friday’s decision.

Meanwhile, the prosecution has told the court that the accused person has been sent to the police hospital for treatment after he fell ill Thursday.

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