Nine persons standing trial before an Accra high Court for the collapse of unibank Ghana limited have been granted a 60 million cedis bail with three sureties, two were to be justified.
The nine are to also deposit their passports to the registrar of the court.
Defence counsel after an initial 100 million bail prayed for the court for a review, arguing that the conditions are tantamount to a refusal of bail.
The court after reviewing the bail condition pegged it at 60 million cedis which again did not please the defense counsel but the court refused a second review.
The accused after pleading not guilty to 68 charges, the the state represented by the Attorney General and Minister of Justice, Gloria Akuffo read out the facts of the case implicating the accused among others of conspiring to commit crime, fraudulent breach of trust and money laundering.
Counsel for the first accused, Dr. Kwabena Duffuor and second accused, Hoda Holdings limited, Dominic Ayine, told the court the charges are misconceived and luck any legal basis.
He argued the predominant charges running through the facts of the matter is that of trust relationship between the depositors and the bank.
However, he advanced his argument indicating that the relationship is not that of trusteeship but a creditor, depositor relationship and that is based on contract.
He therefore stressed that, it is clear no trust relationship from the fact was created between depositors and unibank Ghana limted.
Dominic Ayine further indicated, the shareholder, Kwabena Duffuor and the directors of the collapsed bank were only responsible to the bank and not to the creditors.
This he said rather gives rise to civil remedies instead of a criminal proceeding.
He concluded by praying the court to dismiss the charges stressing that the charges are misconceived, erroneous and lack legal basis.
In arguing for a bail for their clients, counsel for the nine accused prayed the court to grant them bail which they could meet because none of them are flight risk and have for a year cooperated with the investigators and for that matter should be granted either a self recognisance bail or bail with lesser conditions.
The Attorney General, Gloria Akuffo, did not oppose the bail, however told the court it is inaccurate for defense counsel to say all the accused cooperated with investigations.
According to her, Kwabena Duffuor, Johnson Asiama and Kwabena Duffour Junior did not cooperate with investigations.
She added, “the state is mindful of the fact that the court has the discretion to grant or not to grant bail. We argue entirely that, in grating bail, circumstances of the case must be taken into account”.
She said 5.7 billion cedis of depositors’ funds has been misused by the accused through their various conduct so she urged the court “to take this into account and the state will not oppose the bail granted however that the conditions are set to commensurate the circumstances and the charge the accused persons are facing before the court”.
By Godfred Tanam | 3news.com