Businessman granted GH¢800,000 bail over fraud

Businessman granted GH¢800,000 bail over fraud

A 52-year old businessman has appeared before the Adentan Circuit Court for allegedly defrauding his colleague of 100,000 dollars.

Kofi Antwi Nkansah is said to have approached the complainant, Kwasi Agyemang Siaw, to assist him to obtain a loan of 100,000 dollars for his business.

Nkansah was to issue cheques to be debited to his two accounts in two different banks; Stanbic and Zenith.

When Nkansah's cheques were presented at Stanbic Bank, his account had been closed while at Zenith, the accused’s account had insufficient funds.

Charged with defrauding by false pretences and issuing false cheques, Nkansah pleaded not guilty.

He pleaded with the court to give him some time so he could pay the complainant adding that business had been slow.

Nkansah has since refunded 50,000 Ghana cedis out of the 100,000 dollars he obtained from the complainant on May 12, 2018.

The accused, who had no legal representation, has been admitted to bail in the sum of 800,000 Ghana cedis with four sureties, one to be justified.

The court presided over by Sedinam Awo Balokah, ordered that the sureties should be known to the Investigator.

It adjourned the matter to October 7 for mention.

The prosecution, led by Chief Inspector Maxwell Lanyo, said the complainant, Mr Siaw, was a businessman.

Chief Inspector Lanyo said on May 5, 2018, Nkansah approached the complainant to assist him to obtain 100,000 dollars from his bank, Equity Savings and Loans, and he would issue cheques to be debited to his account at Stannic and Zenith.

The prosecution said the complainant agreed and obtained the loan for Nkansah but all the cheques were dishonoured since the Stanbic account was closed while the Zenith account had insufficient funds.

The prosecution said the accused persuaded the complainant not present the cheques because he was going to settle him with physical cash but accused reneged on his promise.

On May 18, this year, a report was made to the police and the accused was picked up.

During investigations, Nkansah paid 50,000 Ghana cedis and same was released to the complainant, prosecution said.