Accra, April 26, GNA - George Gyan-Baffour, former Deputy Minister of Finance and Economic Planning, on Monday pleaded not guilty to causing financial loss to the State, in the Ghana International Airline Limited (GIAL) saga.

This was after prosecution joined him in the suit soon after withdrawing and substituting the facts and charge sheet before an Accra Fast Track High Court (FTHC) presided over by Mr. Justice Bright Mensah on Monday.

He was admitted to GH¢300,000 self recognisance bail.

On March 31, three former Ministers of State and former Greater Accra Regional Chairman of the New Patriotic Party (NPP) appeared before the court to face a number of charges, including causing financial loss to the State. The four are Richard Winfred Anane, former Minister of Transport;

Anthony Akoto-Osei, former Minister of State at the Ministry of Finance a= nd Economic Planning; Kwadwo Okyere Mpiani, former Chief of Staff and Samuel=

Crabbe, former Greater Accra Regional Chairman of NPP. Four other accused persons Ralf Atkins; Kirk Heaton; Albert Vitali and Brain Brisby, all former directors of GIAL were not in court.

All the accused person have been charged with stealing, causing financial loss to the State, fraud and deceit of public officer regarding the roles they played in the formation of GIAL and the subsequent liquidation of Ghana Airways.

Crabbe, who is also President of Unger Oaks Limited, minority shareholders of GIAL, and Anane have been additionally charged with wilfu= lly causing financial loss to the State to the tune of about 4.9 million dollars.

Crabbe is being held solely for opening an offshore account, without authority from the Bank of Ghana, conspiracy to steal and stealing. Akoto-Osei has six additional charges of wilfully causing financial loss to the State, fraud and deceit of public officer and misapplication of public funds.

They have all pleaded not guilty to the charges; and admitted to self recognisance bail of GH¢300,000 each.

Defence counsels have denied the charges preferred against their clients= .. Meanwhile the court has excused Akoto-Osei, who is also Member of Parliament of Tafo-Pankrono to travel to Tanzania, after details had been furnished to the court by the Clerk of Parliament. Prosecuting, Ms Gertrude Aikins, Director of Public Prosecutions, said Dr Anane misrepresented facts on GIAL, which was then not in existence, to the Cabinet of Former President John Agyekum Kufuor and misled the then Government to pay shares into a fraudulent company.

She said Dr Anane's action subsequently led to the liquidation of Ghana Airways.

The prosecution said Dr Anane declared that four companies had expressed interest in Ghana Airways and later presented a letter of intent, which was signed between the Government of Ghana and GIAL to form a new company called New Ghana Airways (NGA), although GIAL was at that time not in existence.

Ms Aikins said although the memorandum Dr Anane presented to Cabinet to sign was dated September 9, 2004, GIA was not in existence at that date. She said although management of PriceWaterhouseCoopers had rated NGA, which had signed an agreement with the Government to form GIAL, third after KLM and Ghanair; two other companies which had submitted their bids to take over Ghana Airways, NGA won the bid.

Ms Aikins said Mpiani, on June 2, 2005, wrote to the Chairman of Government Taskforce on Ghana Airways Limited authorising the taskforce to take all necessary steps to put the airline into formal liquidation.

She said Akoto-Osei signed a loan agreement committing the Government to a financial obligation of paying GH¢15 million from the Social Security and National Insurance Trust to GIAL.

Ms Aikins said Dr Akoto-Osei gave the amount from SSNIT to GIAL as a=

loan, without Parliamentary approval and at a time when the minority shareholders of the airline had abandoned the company by withdrawing 1.9 million dollars from GIAL account without the consent of the majority shareholder, Government of Ghana.

She said Mr Mpiani authorised the release of six million dollars to GIAL in September 2008 without Parliamentary approval.

According to the prosecution Crabbe, who represented the minority shareholders in the company, on June 27, 2005 withdrew 1.9 million dollar= s from the Government of Ghana's account, without approval from the Governm= ent (the Majority Shareholder). The case was adjourned to Monday, May 10.