Kako business goes sour: Banker to cough up GH¢475,500

An Accra Circuit Court has issued a bench warrant for the arrest of a 48-year-old banker and economist for allegedly defrauding a woman under the pretext of investing her money into salted fish (kako) business.

The accused, Alex Kodua, was allegedly given an amount of GH¢475,500 to invest in the ‘kako’ business but didn’t invest and went into hiding.

A warrant was issued last Wednesday for his arrest after he refused to appear before the court presided over by Samuel Bright Acquah.

He is to appear on February 28, this year.

The fact of the case as read in court by the prosecutor, Assistant Superintendent of Police (ASP) Maxwell Oppong were that the complainant Theresa Duku in the month of October 2021 lost her job as a banker.

Alex, who was her friend, approached her with claims that he was into the purchase and supply of ‘kako’.

“The accused person convinced the complainant to invest her money into the business, and get good returns. The accused person thereafter demanded and collected cash, in the sum of GH¢30,000.00 from the complainant under the pretext of investing same into the said business,” he said.

He added that some days later, Alex brought some returns to the complainant as profit he generated from the money he received from her.

Trust

ASP Oppong said, Alex after winning the trust of the complainant, asked the complainant to contact her friends who might also be interested in the deal.

“The complainant fell for the prank and raised funds from her family and friends to the tune of GH¢475,500.00. She handed over the funds to the accused person who promised to use the money to order the said salted fish for the complainant which will enable her do the business herself,” he said.

The accused person after collecting the money ASP Oppong said, went into hiding and suddenly stopped communications with the complainant.

On July 7 2022, the prosecutor said, the complainant reported the issue to the police and Alex was traced and arrested at his hideout.

“He admitted the offence and pleaded with the police to give him up to ending of August 2022 to return the money but that failed. Investigation however revealed that, the accused person had never been involved in the purchase or supply of any salted fish as he had portrayed,” the prosecutor revealed.

Source: Graphic online