A Burkinabè national, Mohammed Ali, has been arrested over an alleged elaborate fake gold scam in which a Ghanaian-American businessman was reportedly defrauded of US$83,000 in Accra.

Ali is alleged to have been the leader of a fraud syndicate operating under the name “Jay & Sons Enterprise”, which reportedly posed as an accredited agent of the newly established Ghana Gold Board (GoldBod).

According to police sources, the syndicate operated from Dzorwulu and allegedly used forged documents and fake identification cards to convince the businessman that he was dealing with legitimate representatives of GoldBod.

A police source told The Ghanaian Times that Ali allegedly presented himself as an official partner of GoldBod and used the claim to gain the investor’s confidence.

How US$83,000 was allegedly taken

The businessman was allegedly persuaded to make several payments purportedly to cover legitimate charges associated with a gold export transaction.

These included customs duties, export levies, Ghana Revenue Authority (GRA) taxes and GoldBod certification fees.

After allegedly collecting the funds, Ali and other members of the group reportedly disappeared, leaving the investor without the promised gold or a refund.

“After collecting the funds, the suspects went into hiding,” the police source disclosed.

The Nima Divisional Command has confirmed that investigations are ongoing to identify and arrest other members of the alleged syndicate who are currently on the run.

The suspects are reportedly known by the aliases ‘Pepsi,’ ‘Dollar’ and ‘Ben.’

GoldBod distances itself from suspects.

GoldBod has strongly denied authorising Ali, Jay & Sons Enterprise or any other private individual or company to operate on its behalf.

The Board has urged members of the public, particularly investors involved in gold transactions, to independently verify the credentials of anyone claiming to represent the institution before making payments or entering into transactions.

The Police have also urged businesspeople and investors to exercise extreme caution when dealing with persons claiming to be GoldBod agents.

They have advised anyone who encounters suspicious individuals or transactions involving purported GoldBod representatives to immediately report the matter to the nearest police station.

Ali remains in police custody as investigations continue, while efforts are underway to apprehend the other alleged members of the syndicate.