Ex-GIIF CEO secures GHc15m bail in $2m Sky Train case
Former CEO of the Ghana Infrastructure Investment Fund(GIIF), Solomon Asamoah has been granted bail to the tune of GHc15 million with two sureties to be justified with landed property.
The second accused former Board Chair of the Ghana Infrastructure Investment Fund Prof. Christopher Ameyaw Akumfi was however absent due to a surgery he undertook yesterday.
The two have been charged for causing 2 million dollars to be transferred from GIIF accounts to the bank account of Africa Investor Holdings Limited without authorisation for the construction of Sky train.
The payment according to prosecution was for Africa Investor Holdings who were to design, build, Finance and operate the sky train to transfer 10% shares to the Ghana Infrastructure Investment Fund as it’s local equity partners.
The two accused persons are said not have undertaken due diligence nor secured board approval for the transfer however did not follow up to secure the shares for the fund.
They have thus been charged with six counts including willfully causing financial loss to the state, intentional dissipation of public funds and conspiracy to commit crime.
On Wednesday, the first accused person was arraigned in the absence of Prof. Christopher Ameyaw-Akumfi. His lawyer prayed the court to grant him bail on existence conditions the Police granted him.
The judge granted him bail to the tune of GHc50 million with two sureties to be justified with landed property in Accra.
He is to report thrice in a week to investigators.
The case has been adjourned to May 20.
