Beige-Bank trial: At receivership, there were logistics in warehouse - witness tells court

  Mon, 24 Jun 2024
Crime & Punishment Beige-Bank trial: At receivership, there were logistics in warehouse - witness tells court

Mr Frederick Frimpong, former Procurement Officer of the collapsed Beige bank, says logistics were still stocked at the Beige Group’s (TBG) warehouse at the time of receivership.

Mr Frimpong, the 12th defence witness in the ongoing trial of Michael Nyinaku, former Chief Executive Officer (CEO) of the collapsed Beige bank, said this in his evidence-in-chief at the

High Court presided over by Mrs Afia Serwaa Asare-Botwe, Court of Appeal Judge sitting with additional responsibility at the High Court.

He said as a procurement officer, his department was responsible for procuring logistics or equipment for branch expansion as part of TBG’s transition to a Universal Bank, the Beige Bank (TBB).

Funding, he said, came from the finance department of the TBG to upgrade the existing branches and new offices built after the Beige Capital Savings and Loans (BCSL) received license.

His department, he said, helped with the supply of office furniture, air conditioners, generator sets and others to the various branches.

Witness named some of the branches as Asylum Down, Abinkyi, Bawku, Bolga, Wa, Nima, Atomic, Anyaa, Madina Zongo Junction, Airport West, Kasoa K5, Adabraka and Osu.

Presenting samples of vouchers as evidence to his witness statement, he said between February 13, 2017, and July 30, 2018, vouchers with face value from GHC12,320.00 to GHC539,885.23 showed that his outfit purchased generator sets for the bank.

From May 29, 2017, and May 9, 2018, some vouchers of payments for office furniture ranging from GHC19,740.00 and GHC78,510.68 were shown to the Court by Mr Frimpong to prove his case.

Again, witness gave some vouchers to the tune of GHC232,801.16, indicating the purchase of some air conditioners/ office equipment for TBB branches.

Out of these items purchased, witness told the Court that there were yet some in the Group’s warehouse when the bank collapsed.

Nyinaku is being tried over alleged theft, money laundering and fraudulent breach of trust.

He has denied all charges and is on bail pending trial.


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