Addis Fortune (Addis Ababa)
Abiy Wendifraw
26 May 2009
The Federal High Court late last week granted bail to 10 of the defendants arrested the preceding week for an alleged connection to the 57 million Br loss the Bank of Abyssinia (BoA) suffered.
The Sixth Criminal Bench of the court granted bail on Friday May 22, 2009, to the 10 defendants charged with causing a 57 million Br loss to the private bank, as claimed by the federal prosecutors.
The court heard the 18-page charge that the federal prosecutor filed against 14 people, 10 of whom appeared before the court last Friday.
After defendants' lawyers pleaded to the court to grant their clients bail, the prosecutors argued that the defendants could influence the seven witnesses who are yet to appear before the court to testify against them, and may also leave the country as some other suspects did.
However, the presiding Judge, Ayesheshum Meles of the Federal High Court, decided to grant bail to all the defendants who appeared at the court.
Abebaw Desta and Menwiyelet Atinafu, founders of Star Business Group (SBG), were granted release on 100,000 Br bail each, while Tekle Alemneh, former vice president of BoA and chief executive officer of Zemen Bank at the time of his arrest, was allowed a 50,000 Br bail. Simon Mariye, former branch manager of BoA and Abebe Addis, credit manager, were released with 30,000 Br and 20,000 Br bail, respectively. Aselefech Mulugeta, former chief executive officer of BoA; Tsehaynesh Abay, finance manager; Menilik Solomon; Mekibib Shumet and Asrat Belachew were allowed 10,000 Br bail each.
"I'm just very happy to see this," Tigist Wendifraw, Abebaw Desta's wife told Fortune after the release of the businessman.
More than two weeks ago, Abebaw and Menwiyelet were taken to Maekelawi Prison the moment they were released from the Kality detention facility after being granted bail in another case related to Nile Insurance that they have been defending for months now.
The Federal High Court adjourned the case to June 12, 2009, to give police time to bring in the other four people - Tekalign Gedamu, Bayissa Gemeda, Kebede Temesgen, ex-president of Abyssinia and United bank and appointed as a Chief Executive Officer of Buna International Bank, as well as Andualem Yeneneh.
Abebaw and Menwiyelet have been under arrest since December 2008, fighting criminal charges in connection with Nile Insurance S.C. Though the co-defendants; Worku Megra and Temesgen Mehari were released on bail, Abebaw and Menwiyelet were rearrested on May 7, 2009, on the same day that the Federal High Court granted them a bail bond of 50,000 Br and 30,000 Br, respectively, and were subsequently taken to Maekelawi, on Dejazmatch Belay Zeleke Street.
The two businessmen went home late last Friday afternoon after securing bail.
"I am pleased that my client's family is happy," Wendawek Ayele, the lawyer of one of the two businessmen, told Fortune.
The case began after the BoA allegedly forwarded a claim to police on May 4, 2009, indicating that the businessmen had caused them a 57 million Br loss.
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