Immediate past Chief Executive Officer for Ghana Infrastructure Investment Fund (GIIF), Solomon Asamoah has failed to meet his bail rules instituted by the Accra High Court. The hearing in Court today spans a case in which Mr. Asamoah has been charged with the former board chair of GIIF for causing financial losses to the tune of $2 million in the sky train project initiated by the erstwhile Akufo Addo – led administration which never materialized.
The embattled CEO, Asamoah and a former Board Chairperson of the GIIF, Prof. Christopher Ameyaw-Akumfi, are standing trial for allegedly and illegally transferring the sum of $2m from GIIF’s account into Africa Investor Holdings Limited, a company established in South Africa without board approval for the purpose of acquiring shares as part of the deal.
While Prof. Ameyaw-Akumfi, was absent at the first hearing on May 13, 2025, Asamoah pleaded not guilty to six counts of conspiracy, willfully causing financial loss to the state and intentional dissipation of public funds.
The court presided over by Justice Comfort Kwasiwor Tasiame admitted Asamoah to bail in the sum of GH¢15 million with two sureties to be justified with a registered land located in Ghana.
But when the case was called today (May 20), Asamoah was accompanied by police officers.
Sources close to the case told Graphic Online’s court correspondent Justice Agbenorsi that the accused had not been able to meet the bail conditions set by the court.
Meanwhile, Prof. Ameyaw-Akumfi, was absent for the second time on medical grounds.
His lawyer, Duke Aaron Sasu, told the court that his client was rushed this dawn to the ward.
He, therefore, prayed the court to adjourn the matter saying his client would be released by Monday.
The case has been adjourned to May 26, 2025.
Source: Graphic Online
