The High Court has granted bail to Professor Christopher Ameyaw-Akumfi, former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), in the sum of GH¢10 million with two sureties to be justified with landed property in Accra.
Prof. Ameyaw-Akumfi is standing trial alongside Solomon Asamoah, former CEO of GIIF, over allegations of wilfully causing financial loss to the state, intentional dissipation of public funds, and conspiracy to commit crime.
The accused persons allegedly transferred $2 million of public funds into a private account belonging to Africa Investor Holdings for the construction of a proposed Sky Train project without proper authorization or due diligence.
As part of the bail conditions, Prof. Ameyaw-Akumfi is required to deposit his passport and all other travel documents with the court and report to the investigator once every week. The court has adjourned the case to June 10 for a case management conference.
Both Prof. Ameyaw-Akumfi and Solomon Asamoah have pleaded not guilty to the charges and are expected to mount a full defense as the trial progresses.
The state contends that the transaction violated legal and administrative protocols, resulting in a significant financial loss to the state.