The Tarkwa Circuit Court has fined Joseph Owusu, 51, a contractor, GH¢3,600 or in default five years imprisonment for issuing five dud cheques. 

This was after the court presided over by Mrs Hathia Ama Manu, found Owusu guilty on five counts of issuing false cheques.

Owusu was ordered by the court to refund the complainant's money. 

Police Superintendent Juliana Essel-Dadzie, leading prosecution said, Stephen Dankwah-Smith, the complainant was a licensed money lender, lived at Tarkwa with Owusu. 

During July 2020, Owusu approached Dankwah-Smith for financial assistance, and he agreed to offer him a loan at a 20 per cent interest rate. 

The prosecutor said Dankwah-Smith released the loan to Owusu in bits all to the tune of GH￠ 1,268,480.00 and he pledged to pay with the interest at the end of September 2021. 

Superintendent Essel-Dadzie said Owusu failed to settle the debt, and Dankwah-Smith made several efforts to retrieve the money but to no avail. 

She said on March 3, 2023, Owusu issued five UMB, Tarkwa branch cheques with face values of GH￠3,600, GH￠150,000, GH￠12,000, GH￠1,300, 000 and GH￠120,000 respectively to be drawn by the complainant on the same day. 

Prosecution said the cheques were dishonored by the bank for lack of funds, and Dankwah-Smith informed Owusu, but he failed to act on it. 

On July 20, 2023, complainant reported the case to the police for investigation and Owusu was arrested, admitted the offence in his statement.