GRi in Court Ghana 10 - 11 - 2000
Accra (Greater Accra) 10 Nov. 2000
Tanko Abudulrahman Shardow,
Managing Director of Pyram, a defunct savings and loans company, was on
Thursday refused bail by an Accra Circuit Tribunal.
Superintendent Elizabeth Allandu
told the tribunal that since Tanko was arrested on November 1, about 35 cases
have been reported against him. The least amount involved in these cases is 6
million cedis.
She said Tanko's incarceration is
a form of security for him since most of the customers of Pyram are aggrieved
and aggressive.
Tanko, charged with defrauding
under false pretences, is alleged to have absconded with millions of cedis
belonging to unsuspecting depositors.
In an application for bail,
Mohammed Sahnoon, counsel, denied that Tanko has been hiding because there are
other cases on the same issue against the accused at different courts, where he
has been reporting.
"The Prosecution is only
making a mockery about the judicial system," he said.
Mr Sahnoon also denied that Tanko
had defrauded Mr Haruna Rashid Abdulai of 280 million cedis and explained that
Mr Abudulai is a business partner of Tanko and that the 280 million cedis was a
contribution he made to the company.
"Mr Abdulai got aggrieved in
the business and for that matter lodged a complaint with the police and should
therefore be held responsible for setting up Pyram," he said.
Mr Sahnoon recounted that in 1995,
the Bank of Ghana (BOG) ordered the closure of Pyram because it had not been
registered with it.
People demonstrated against the
decision and the government asked the company to operate while it regularised
its activities.
Mr Prosper Nyahe, second counsel,
said all the charges levelled against Tanko are malicious and "an attempt
to harass and intimidate him".
Mr Mohammed Nabon, who chaired the
tribunal, ordered that copies of an affidavit and an application for bail
should be forwarded to the Attorney's General Department for advice. Tanko will
reappear on November 16.
Tanko is said to have gone into
hiding for about five years after the collapse of Pyram.
The police arrested him on
November 1 when one of his victims, Mr Haruna Rashid Abdulai, who claims to
have lodged 280 million with the company spotted him (Tanko) in Tema and
informed the police.
GRi../