An Accra Circuit Court has granted bail of ¢700,000.00 with five sureties to a businessman for allegedly stealing ¢620,000.00 from the Frimps Oil Company.

Two out of the five sureties should be public officers.

Joshua Kofi Abusah also known as Godfred Kofi Debrah is again to make a security deposit of ¢200,000.00.

In addition, he is charged for forging documents, possessing forged documents and money laundering and he will make his next appearance on September 6.

Two of his accomplices are currently on the run.

Deputy Superintendent of Police (DSP) Mawunyo Namegbe told the Court presided over by Mr Emmanuel Essandoh that the prosecution witnesses are security heads of the Fidelity Bank, Dansoman located in Accra.

He said in February 2017, Abusah forged the letterhead of the Frimps Oil Company and attached it to Ghana Commercial Bank (GCB) cheques with the face values ¢350,000.00 and ¢270,000.00 to be transferred into the account of the GKD Enterprise through the Fidelity Bank.

The Prosecution said he succeeded in withdrawing the monies later from the account.

His transactions were detected as fraudulent when Frimps Oil Company went to the bank to cash out money and was informed the institution had not enough money in its account.

Later through the Closed Circuit Television (CCTV), Abusah was identified and it led to his arrest.

DSP Namegbe said that in Abusah’s caution statement, he admitted the offence and confessed that he had shared the booty with the two at large.