Crime

4 granted GH¢80m bail for allegedly defrauding customers

Four employees of Global Coin Help International Limited, have been granted GH¢80 million bail by the Financial and Economic Division “One” of the Accra High Court, for allegedly dissipating millions of depositors savings.

The accused, kwaku Damete-Kumi, David Odonkor, Padmore Owusu Mensah and Samuel Adu Yeboah, who allegedly hid under the guise of crypto-currency business to defraud depositors/customers, had no licence from the Bank of Ghana to receive deposits.

Messrs Damete-Kumi, Odonkor, Yebaoh and Mensah, directors and accountant of the company, have pleaded not guilty to all 67 charges preferred against them by the state.

The charges include money laundering, defrauding by false pretences, tax evasion, conspiracy to defraud by false pretences, abetment to defraud by false pretences and conspiracy of failure to submit social security contribution payment of employees.

The prosecutor, Mr Charles Wilcox Ofori, Senior State Attorney of the Economic and Organised Crime Organisation (EOCO), told the court presided by Justice Ellen Vivian Amoah, that the company carried out the unlawful business activities between 2017 and 2018.

 Mr Ofori stated that the accused took huge sums of money from depositors on agreed terms that they would receive interest upon maturity of their investments.

He stated that examination conducted into the accounts of Global Coin Help International, indicated the company had allegedly defrauded more than 110 persons.

Mr Ofori said the limited liability company, located at Nsawam in the Eastern Region, and incorporated under the laws of Ghana on October 2, 2017, received certificate to commence business the same day.

He said the company was established to undertake real estate development, transportation services, e-commerce, e-trading, block chain technology services, road construction, import of solar energy appliances and oil and gas services.

Mr Ofori stated that accused went beyond their mandate to receive deposits of between GH¢10,000 and GH¢400,000 from customers.

He said accused accepted deposits from the public under the guise of unregulated crypto-currency activities in Ghana.

Mr Ofori said out of the GH¢80,239,000, the company received from depositors within eleven months of operations, and only GH¢3,700.000 was recovered by EOCO.

The prosecutor stated that the accused wilfully acted together with a common purpose to defraud depositors/customers and received GH¢37 million from depositors into its account N0:2161180000441 at the Ghana Commercial Bank.

The court heard that the company also received GH¢43,239,000 into its bank account N0:06698112021 at First Atlantic Limited, North Industrial Area Branch, in Accra.

Mr Ofori told the court accused falsely represented to the public that they were licensed to carry on deposit taking business when they have not been authorised to do so.

The prosecutor said investigations revealed that the company’s claim that it was engaged in crypto-currency online was a sham and that it was done to deceive members of the public.

BY MALIK SULLEMANA

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