Former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), Prof. Christopher Ameyaw-Akumfi, has been granted bail in the sum of GH¢10 million with two sureties, to be justified with landed property in Greater Accra.
As part of the bail conditions, he is to deposit his passport and all other travel documents with the court and report to the investigator once every week.
The case has been adjourned to June 10 at 9:00 a.m.
Prof. Ameyaw-Akumfi earlier pleaded not guilty to charges of wilfully causing financial loss to the state, intentional dissipation of public funds, and conspiracy to commit a crime.
His plea was entered on Monday, May 26, after he missed two previous court appearances due to reported medical emergencies.
Prof. Ameyaw-Akumfi is standing trial alongside Solomon Asamoah, a former CEO of the GIIF, in connection with the controversial transfer of $2 million of public funds into a private account belonging to Africa Investor Holdings.
According to the prosecution, the funds were transferred without proper authorization or due diligence, allegedly for the construction of a proposed Sky Train project.
The state contends that the transaction—executed during the accused persons’ tenure—violated legal and administrative protocols, resulting in a significant financial loss to the state.
Both men deny any wrongdoing and are expected to mount a full defense as the trial progresses.
CNR
