Audio By Carbonatix
The former CEO of defunct Beige Bank, Michael Henaku, is set to appear before the Financial and Economic Crime Division of the High Court in Accra today, November 8.
He has been charged with 44 counts of money laundering, fraudulent breach of trust and stealing depositors’ money.
The suit, signed by Yvonne Atakora Obuobisa, Director of Public Prosecution, said the alleged malfeasance was discovered after the Bank of Ghana (BoG) had revoked the banking license of Henaku and placed the Bank in receivership.
The Bank’s license was revoked by BoG on August 1, 2018.
The suit said a review of the financial and other records of the Bank conducted by the Receiver identified a number of suspicious and unusual transactions.
The unusual transactions were subsequently reported to law enforcement agencies for investigations and same revealed that between 2015 and 2018, Henaku, who was then the CEO of Beige Bank had allegedly used various means to transfer huge sums of money to companies related to him and for his personal benefit.
It said the funds transferred were depositors' funds lodged with the Bank.
Latest Stories
-
‘She’s a real Scorpio’: Gen Z’s love for astrology is showing up in their jewelry
4 minutes -
Monday’s floods destroyed everything in my home – Kwame Jantuah
5 minutes -
Bosome Freho District Assembly empowers persons with disabilities with start-up kits to reduce street begging
7 minutes -
Floods, cholera and typhoid: What communities need to know
13 minutes -
Gen Z’s love for retro watches has little to do with keeping time
19 minutes -
Discipline must build unity, not endanger victory: a reflection on leadership, constitutionalism and the future of the NPP
26 minutes -
When the rains come, let us not count the dead again
34 minutes -
People with a lot of unresolved anger usually show it in these 3 surprising ways
44 minutes -
Gonja king calls for stronger collaboration with Asante Kingdom to promote peace and development
50 minutes -
‘Most massive’ Russian attack on Kyiv kills at least 18
53 minutes -
People smuggler convicted in France found by BBC living in UK and seeking asylum
53 minutes -
The 2026 FIFA World Cup… or World War II in Disguise?
1 hour -
We want to be remembered for our unity – Daughters of Glorious Jesus
1 hour -
NACOC reaches out to 50 substance users in Ashanti Region under “Wheels of Change” initiative
1 hour -
Supreme Court dismisses consolidated cases challenging Torkornoo’s removal
1 hour