Trader Charged with Misappropriation of GHC80,000 in Accra

Business
November 2, 2023

ACCRA — A 57-year-old trader has been brought before the Accra Circuit Court charged with the misappropriation of funds amounting to GHC80,000, which belonged to a businesswoman.

According to Ghana News Agency, Eric Annan was accused of convincing the complainant to invest in the wood product business, claiming high profitability, which led her to take out a loan of GHC80,000 and hand it over to him. The prosecution stated that Annan took the complainant’s son to pay for a quantity of wood, subsequently removed the goods without the son’s knowledge, and then went into hiding.

The court, presided over by Mrs. Evelyn Asamoah, entered a not guilty plea for Annan on the charge of stealing and granted him bail in the sum of GHC100,000 with two sureties. Instructions were given for the prosecution to file their disclosures, and the case was adjourned to November 22, 2023.

Inspector Chief Inspector Clemence Takyi provided the court with details regarding the complainant, Mavis Asante, a businesswoman residing in Weija, Accra, and the accused, Annan, who resides in Odorkor Official Town. Asante, who runs a provision shop where Annan was a customer, had become friends with the accused.

The prosecution told the court that Annan had recommended that Asante supplement her business by dealing in wood, and after expressing her inability to manage such travel for business, she suggested that Annan teach her son the trade. Annan reportedly accepted and claimed that a starting capital of GHC80,000 would enable them to procure a customer and initiate the business.

The prosecution recounted that on June 28, 2023, Annan had ordered wood from a sawmill in Sefwi Wiawso worth GHC68,000, paying a GHC50,000 deposit and promising to clear the balance upon collection. Annan is said to have kept GHC12,000 for himself.

When Annan became unreachable, the complainant’s son went to the sawmill only to find out that Annan had already taken the wood. After failing to locate Annan, Asante reported the incident to the police, leading to Annan’s arrest with the assistance of the Sefwi Wiawso Police. Upon his arrest, Annan confessed to selling the wood and using the proceeds, promising to refund the money and has since returned GHC14,046.