Businessman defrauds colleague of $100,000

A 52-year-old businessman, who allegedly defrauded his colleague of $100,000, has been granted GH¢ 800,000 bail with four sureties, one to be justified by the Adentan Circuit Court in Accra.

The court, presided over by Sedinam Awo Balokah, ordered that the sureties be known to the investigator, and adjourned the matter to October 7.

Kofi Antwi Nkansah pleaded not guilty to defrauding by false pretences and issuing dud cheque and pleaded with the court to give him time to pay the complainant, saying, business was  “slow”.

The court heard that his account was inactive when the cheque was presented at Stanbic Bank because he did not have sufficient funds in the account at Zenith Bank.

Prosecution said Nkansah refunded GH¢50,000.00 out of the $100,000 he collected from the complainant on May 12, 2018.

Prosecution, led by Chief Inspector Maxwell Lanyo, said the complainant, Mr Kwasi Siaw Agyeman, was a businessman.

 The court heard that Nkansah approached Agyeman to assist him to obtain $100,000 from his  bank, Equity Savings and Loans, and to issue cheques to debit his accounts at Stannic and Zenith banks.

 Chief Inspector Lanyo said Agyeman agreed to the transaction and obtained the loan for Nkansah.

He said but when Nkansah issued cheques and Agyeman presented them to the bank, they were not honoured.

 Prosecution said Nkansah persuaded Agyeman not to present the cheques again because he (Nkansah)  was going to settle him (Agyeman) with cash.

 Chief Inspector Lanyo said Nkansah did not fulfil his promise, and he was arrested by the police.

 Prosecution said during investigations, accused paid GH¢ 50,000 which was released to the complainant. – GNA