Court orders arrest of CEO over alleged GH¢100,500.00 fraud

An Accra Circuit Court has issued a bench warrant for the arrest of a businessman, who allegedly took iron rods worth GH¢100,500.00 from Star Steels Limited under the pretext of paying through the Agricultural Development Bank but failed.

Mr Kwadwo Fosu, the 45-year-old man, was charged with defrauding by false pretences, issuing a false cheque and failing to appear before the Court for his plea to be taken.

Police Chief Inspector Agartha Abena Asantewaa prayed the Court for a bench warrant to be issued for the arrest of the accused person after several attempts made for him to appear before Court.

The Court presided over by Mr Samuel Bright Acquah, therefore, issued a bench warrant for the arrest of Fosu.

The case has been adjourned to August 16, 2023.

The facts before the Court were that the complainant Mr Isaac Amo is the representative of Star Steels Limited and resident of Nsawam, while the accused person was the Chief Executive officer of Fosu Gyeabour Transport and Training Enterprise and resided at Berekum.

The police said on October 14, 2021, the accused purchased iron rods valued at GH¢220,000.00 from the management of Star Steels Limited.

It said the accused person made part of the payment of GH¢119,550.00 and subsequently issued post-dated Agricultural Development Bank cheques to be presented for payment, which were returned unpaid when presented to the bank on the due date.

The Police said as a result, the complainant filed a petition for assistance. 

It said investigation revealed that the accused issued post-dated Agricultural Development Bank cheques of GH¢100, 500.00 to the complainant as part payment of the remaining balance to be presented for payment on August 2, 2022, but did not have adequate funds in the accounts specified on the cheques.

Source: GNA