• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

Persons involved in banking sector crisis will all be prosecuted – Dep. AG 

3 years ago
in Features, highlights, Home, home-news, latest News
1 min read
0 0
0
56
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Persons involved in banking sector crisis will all be prosecuted – Dep. AG 

Alfred Tuah Yeboah, a Deputy Attorney General (AG) and Minister for Justice, says persons responsible for the banking crisis will all be prosecuted to recover the money spent on the clean-up of the sector.

Government is said to have expended some GH¢25 billion on the clean-up exercise.

William Ato Essien of defunct Capital Bank is awaiting judgment on November 17, 2022, while Michael Nyinaku of defunct Beige Bank was arraigned on Tuesday and will return on December 22, 2022

The Deputy Attorney General revealed that many others will follow soon.

“The depositors get to be paid by the government. So, we are now in court to prosecute and possibly recover the funds. If you paid an amount of GH¢1.2 billion from the taxpayers money, you will need that money back, and you can get it back if you take a legal action like we have done. I can assure that, there are other cases that we will prosecute to get the monies back”, he told the media.

Michael Nyinaku is facing 43 counts of criminal charges; stealing, fraudulent breach of trust and money laundering.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

These follow the revocation of the license of Beige Bank in August 2018.

According to facts presented before the Court, the receiver’s review of the Bank’s financials following the revocation “identified a number of suspicious and unusual transactions”.

The transactions were subsequently investigated, and it was found that Mr Nyinaku transferred, for personal benefit, huge sums of depositors’ funds to companies related to him between 2015 and 2018.

These included the transfer of over GHS 448 million in fixed deposit accounts to Beige Capital Asset Management Limited, over GHS 141 million in fixed deposit investments to Beige Group, and, a transfer of GHS 320 million in March 2018 to a fictitious account in First Africa Savings and Loans which was subsequently transferred to Beige Capital Asset Management Limited.

These, and other transactions, happened without the knowledge of the respective customers, management and shareholders.

Alfred Tuah Yeboah told Journalists after the Court hearing that the case has been thoroughly worked to arrive at these charges.

He maintained that it is only through these actions that the State can recoup the monies expended in the banking sector clean-up exercise.

Tags: banking sector crisisBeige BankCapital BankPersons involved in banking sector crisis will all be prosecuted - Dep. AG
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.