Audio By Carbonatix
The Mpraeso Circuit Court presided over by Mr Kwaku Osei on Thursday issued a bench warrant for the arrest of three top officials of Top Mount Financial (TMF), a non banking financial institution for operating without a license from the Bank of Ghana.
They were charged for operating a non- banking financial institution without a license from the Bank of Ghana and defrauding by false pretence.
They are Mr Abel Changtra, Director, Mr Stephen Yeboah, an Accountant and Ferguson Osafo, a Manager, all officials of TMF operating at Maame Krobo and Donkorkrom in the Kwahu North District.
Prosecuting, Detective Inspector Christian Apronti told the court that about three years ago, TMF started operating in the Kwahu North District with agencies at Maame Krobo and Donkorkrom.
He said they informed the people, mostly farmers to deposit their monies with the financial institution and within three months, they would be granted loans to expand their farming business and some 120 farmers deposited their monies.
The prosecutor said in August 2011, officials of TMFat Maame Krobo met one Mr Martin Kwame and convinced him to deposit some amount with TMF to assist him to purchase a tractor on a hire purchase basis.
He said the farmer deposited GH¢7,900 but TMF failed to assist him to purchase the tractor and all efforts to get his deposit paid to him failed.
The farmer reported the case to the Donkorkrom police who later arrested the officials and charged them with the offence but they failed to appear before the court.
TMF also failed to grant loans to the over 120 customers in the district who deposited their monies with the company.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Adansi United seal Middle League spot with strong finish in Ashanti Division Two
2 minutes -
Mahama’s praise of OSP was “settings” — Minority alleges contradiction in anti-corruption stance
9 minutes -
High Court rejects bid to halt OSP prosecution of Mustapha Hamid and others, adjourns trial to May 26
19 minutes -
Minority urges Supreme Court to quash case challenging OSP’s prosecutorial powers
25 minutes -
Minority insists OSP prosecutions remain lawful, calls for urgent Supreme Court action
27 minutes -
High Court pauses Mustapha Hamid OSP trial pending ruling on prosecutorial authority
27 minutes -
South Africa’s police boss charged in connection with controversial health contract
35 minutes -
Minority urges fast-tracking of OSP Supreme Court case, urges Mahama to state position on the anti-corruption body
39 minutes -
High Court grants GH₵30m bail to Abu Trica amid ongoing extradition battle
45 minutes -
Anlo MP warns government over worsening coastal destruction in Volta Region
59 minutes -
Pension funds not under our control — NPRA’s Philemon Laar responds to Minority
1 hour -
Explainer: Why the Asantehene destooled Kyeame Kofi Nti
1 hour -
Minority alleges strategy to dismantle OSP through courts and Parliament
2 hours -
UG Corporate Football League: Match Week 8 recap, Group A
2 hours -
Anlo MP raises concerns over $150m coastal project spending on workshops and consultancy
2 hours