Chief Executive Officer of defunct Beige Bank, Mike Nyinaku, has been remanded in police custody by an Accra High Court for one week.
This comes after an application for bail by his lawyers was dismissed by the court.
Mr Nyinaku and 12 subsidiaries have been dragged to court by the receiver of the bank, Nii Amanor Dodoo, who is asking the court to help retrieve some over GH¢1 billion from the company.
Ni Amanor Ddoo’s writ is accusing the CEO of dereliction of duties and engaging in unlawful activities which led to the massive loss recorded.
He is also asking the court to hand over custody of landed properties and about 165 cars reportedly procured with funds from the defunct bank.
Nii Armah is again seeking the court to “ order for a perpetual injunction restraining all the defendants from selling, disposing of and/or dealing with the assets identified by the plaintiffs and any other assets acquired with funds obtained from the second plaintiff (Beige Bank) and “an order directing the defendants to account to plaintiffs all advantages, benefits, gains and profits derived or obtained from or through any transactions with second plaintiff (Beige Bank) funds.”
