Accra, Aug. 16, GNA - A 35 year-old man who acted for 14 days as chief executive officer of a company and embezzled 70 million cedis was arraigned before an Accra Circuit Tribunal on Wednesday.

Charles Fynn, acting managing director of Frank Field Holding Limited who pleaded not guilty to stealing was granted 10 million cedi bail with one surety to be justified.

He will reappear on August 29. Police Inspector Emmanuel Boison prosecuting told the tribunal chaired by Mr Immoro Ziblim that the accused was put in charge of the company, manufacturers of domestic and industrial oxygen, when the substantive managing director Mr Frank Nana Buah travelled outside the country.

The prosecutor said on Mr Buah's return, he found that Fynn had misappropriated 70 million cedis.

He said the accused person admitted taking the money, which he used to purchase cowries and gold trinket to be sold in South Africa by a Liberian business partner. He also used part of it to stake lotto. Police recovered only six million cedis from him