Accra, Sept. 18, GNA – Prosecution in the case of Daniel Gyimah, former National Investment Bank (NIB) boss on Thursday sought adjournment to enable it investigate leads brought up by their collaborators.
When the case was called at the Accra Fast Track High Court, Mrs Helen Kwawukume, a Principal State Attorney said its collaborators had given them new leads which were in their custody. She therefore prayed the court to adjourn the matter to enable them, study and investigate those documents. Meanwhile, Mrs Kwawukume said they were making efforts to get Arvid Kumar Bhartnagor, Managing Director of Eland International, an accomplice to come and stand trial. Gyimah together with the Managing Director of Eland International Ghana Limited, Arvind Kumar Bhartnagor have been jointly charged with conspiracy to defraud.
Other charges preferred against them are attempting to defraud the international banking community and three counts of forgery of documents including reports on goods under the control of the NIB for Eland. Gyimah has pleaded not guilty and the court presided over by Mr Justice Charles Quist has admitted him to bail in the sum of GH¢500,000 with two sureties to be justified. Prosecution said on May 31, 2007, NIB’s net was worth GH¢42,947,896.
The Banking Act allows the banks to give 10 per cent of its worth, rather than 20 per cent. Prosecution said in the NIB and Eland’s transaction, Gyimah gave out 20 per cent of the banks worth without the knowledge of the bank’s Board of Directors. Subsequently, the NIB from February to December 2008, received swift messages from Standard Chartered Bank requesting payment of 60 million dollars to Ghana International Commercial Bank in respect of 30 promissory notes. Prosecution said there were no records of the transactions at the bank and investigations indicated that documents on the transaction did not exist as Gyimah had conspired with Bhartgnor to defraud the State. The case has been adjourned to October 21.
Source: GhanaWeb
