Court Acquits Michael Nyinaku, Founder of Beige Bank
The Court of Appeal has acquitted Michael Nyinaku, founder and former CEO of the defunct Beige Bank, dismissing all criminal charges—including stealing, fraudulent breach of trust, and money laundering—for lack of sufficient evidence. What We Found The Court of Appeal, in a ruling by a three-member panel led by Justice Emmanuel Ankamah, acquitted and discharged Nyinaku of all charges, stating the prosecution failed to prove dishonesty or criminal intent required for conviction. Nyinaku faced 43 counts, accused of misappropriating over GH₵1 billion (from 2015–2018), transferring depositors’ funds into his companies—even creating fictitious accounts—for personal gain. The allegations included transfers of GH₵448 million, GH₵141 million, and GH₵320 million via fictitious bank accounts linked to him. He had been on bail (initially GH₵200 million, later reduced) since late 2022, with the trial ongoing through several years of proceedings Expert Insight Legal experts emphasize that […]