The Accra High Court has reviewed the bail conditions for the former Managing Director of the Bulk Oil Storage and Transportation Company Limited (BOST), Mr Edwin Provencal, reducing the original GHC60 million sum to GHC30 million.
Mr Charles Okyere, counsel for the former MD, said the revised bail terms now require two sureties and the surrender of Mr Provencal’s passport to the court registry.
He noted that his client is being investigated by the Economic and Organised Crime Office (EOCO) over allegations of causing financial loss to the state, but insisted that no evidence has been established to support the claims.
According to him, the alleged financial loss “has not occurred,” making the basis of the investigation questionable.
“You cannot investigate or prefer charges for a financial loss that is yet to happen,” he said.
Mr Provencal was arrested on November 10 at the Kotoka International Airport (KIA) as he prepared to travel to Maputo, Mozambique. EOCO officials said he had not secured the necessary clearance before attempting to leave the country.
