Four directors of some microfinance companies who have been accused of fraud, were yesterday granted bail by an Accra Circuit Court.
The four are facing a charge of fraudulent breach of trust.
The court, presided over by Aboagye Tandoh, granted bail to the accused under different conditions to be met.
The Chief Executive Officer of DKM Diamond Microfinance Company, Martin K. Delle, was granted bail in the sum of GH¢80, 000,000 and was to pay a security deposit of GH¢6,000,000 , with four sureties, two to be justified.
Both Directors of God Is Love Fun Club, Monica Afriyie, and Nortey Noel, were also granted bail in the sum of GH¢15, 000,000 each. Each of them was to pay GH¢5,000,000 as security deposit and five sureties with two to be justified.
Director of JASTAR Group of Companies, Charles Asum was granted bail in the sum of GH¢20, 000,000 pay a security deposit of GH¢1,000,000 with three sureties, one to be justified.
They are all to report at the Bureau of National Investigations (BNI) every Thursday.
They was after their lawyers, Lamtiiq Apanga and Tony Amekudzi had told the court that the case was a civil matter, but it had been made to look like a criminal one, for that matter, their clients had rights to bail.
However, speaking to The Ghanaian Times, after court proceedings Apanga said, the condition of the bail meant that the court had indirectly denied the accused bail.
He said that the decision of the court shocked them, and they would consider every option available to them.
Prosecuting, Deputy Superintendent of Police, (DSP), Abraham Annor said all the accused told their clients that their deposits would attract 50 per cent interest every three months.
The prosecution said when the complainants went to the companies to take the monies after three months, the officials of the companies where nowhere to be found and their offices locked up.
The prosecutor disclosed that, investigations revealed Afriyie and Noel, succeeded in taking deposits from some customers worth GH¢100 million, Asum GH¢20 million and Delle GH¢80 million.
The case has been adjourned to February 11.
By Edem Mensah-