• Mon. Aug 15th, 2022

Court summons BoG to produce Bank statement of Capital Bank

The High Court in Accra has issued a subpoena for the Governor of the Bank of Ghana, Dr Ernest Addison, to appear before it on March 10, 2022, or instruct an official to appear on his behalf.

According to the court, the Governor or his officer must appear and produce Capital Bank’s statement of accounts from June 2015 to August 2017.

After counsel for William Ato Essien, the first accused person facing charges including theft, requested that a bank official produce the bank’s statement of accounts so that he could mount his defense, the Court issued the order.

After Dr Isaac Nyame, Chartered Accountant, testified as the first Defence Witness for Ato Essien in court on Thursday, March 3, 2022, the court stated that the said official should appear on March 10th.

“When we had the case management,” Ato Essien’s lawyer Baffour Gyawu Bonsu Ashia said, “I indicated to the court that by way of subpoena, we pray the court to make an order directed at the governor of the Bank of Ghana or any senior official of the Bank of Ghana to produce the capital bank statement of account between June 2015 and August 2017.”

The request was granted by the court, which was presided over by Justice Eric Kyei Baffour, a Justice of the Court of Appeal who also served as a High Court judge.

“I grant learned counsel for the first accused’s request and direct the registrar of the court to seal a subpoena directed at the Governor of the Bank of Ghana, who shall direct the appropriate department of the Bank of Ghana that is in charge of the statement of account of commercial banks to produce the bank statements of the capital bank (now in receivership) from June 2015 to August 2017,” the court said.

“A bank of Ghana official is to appear in court on the 10th of March 2022 at 11 a.m. to tender the statement of account before the court,” the court said.

Witness for the defense

Dr. Isaac Nyame, a Chartered Accountant who testified for Ato Essien as the first Defense Witness, told the court that he is a Fellow of the Association of Chartered Certified Accountants.

He also identified himself as a chartered institute of taxation fellow and an Obama member of the Ghana Institute of Chartered Accountants.

He also informed the court that he holds a doctorate and a master’s degree in business administration.

He read his Witness statement, which he filed on January 27, 2022, and which has been tendered as well.

Cross-examination

He told the court that he was hired by solicitors to review and prepare a reconciliation report on funds flow and related balances, under cross from the prosecution led by Anastasia Karimu, an Assistant.

He also told the court that all of the papers he used to write the report were handed to him by the first accused person’s lawyers.

He further admitted to the court that he was unaware of the precise crimes that the first accused person is accused of doing.

Dr. Nyame stated he couldn’t identify how the alleged crimes were perpetrated based on the information he had.

The Witness stated that he had no idea how much the first accused individual is accused of stealing.

“The scope of work given by lawyers of first accused required me to identify amount of GHc130M which they wanted me to confirm by the documents how the amount was utilised hence the need for a reconciliation,” the witness said when told by the Assistant State Attorney that the amount stolen by the first accused is not GHs130 million but GHs192.5 million.

“I had no idea the first defendant had stolen money.” “All they needed was my advice or confirmation on how the funds were spent,” the witness explained.

“Based on the papers analyzed, particularly the receiver’s findings that the money was retained and meant for capitalisation of capital bank,” he stated.

“I am preparing your report because you did not have access to all of the sovereign bank’s financial records.”

“Financial records will comprise not only audited or unaudited financial accounts, My Lord.” There are various records that make up the financial statements’ underlying records. The source papers for the preparation of financial records are expected to be the underlying records.

“The first accused’s lawyers did not make those materials available to me.” The Dina dial Statements, on the other hand, were made available by the first accused’s solicitors, so the information I needed for my job was not to go over the entire financial record, but to go over the financial statement that would give me confidence that the information I needed was sufficient and appropriate,” he told the court.

Ato Essien and two others, Tetteh Nettey and Frutzgerald Odonkor, have been granted bail after pleading not guilty to 23 charges.

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