Prof. Ameyaw-Akumfi pleads not guilty  in $2 Million Financial Loss Case

Former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), Professor Ameyaw-Akumfi, has pleaded not guilty to multiple charges, including willfully 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, following two earlier absences from court, which his legal team attributed to medical emergencies.

Prof. Ameyaw-Akumfi is being tried alongside Solomon Asamoah, the former CEO of the GIIF, in connection with the controversial transfer of $2 million in public funds to a private account held by Africa Investor Holdings. The transaction was reportedly intended to support the development of the proposed Sky Train project.

According to the prosecution, the transfer was made without proper authorization or adherence to legal and administrative protocols, resulting in substantial financial loss to the state.

Both Prof. Ameyaw-Akumfi and Mr. Asamoah have denied any misconduct and are expected to present a robust defense as the trial continues.