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

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

Nkansah was to issue cheques to debit his two accounts in two different banks- Stanbic and Zenith, to repay the loan.

The Court heard that his account was inactive when the cheque was presented at Stanbic Bank and he had insufficient funds in the account at Zenith Bank.

He pleaded not guilty for defrauding by false pretences and issuing false cheque and admitted to bail in the sum of GH¢800,000.00 bail with four sureties one to be justified.

Nkansah pleaded with the Court to give him some time to pay the complainant, saying, business was slow.

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

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

The Court adjourned the matter to October 7 for mention.

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

It said on May 5, 2018, Nkansah approached the complainant to assist him to obtain $100,000 from his bank, Equity Savings and Loans, to issue cheques to debit his accounts at Stannic and Zenith banks.

The Prosecution said the complainant agreed and obtained the loan for the accused person.

It said when the accused person issued cheques and the complainant presented them, the cheques were not honoured.

The Prosecution said the accused person then persuaded the complainant not to present the cheques anymore because he was going to settle him with cash.

It said the accused person, however, did not fulfil his promise and that on May 18, this year, a report was made and the accused person, picked up by the police.

The Prosecution said during investigations, Nkansah paid GH¢50,000.00 and same was released to the complainant.