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A businessman charged with fraud was granted bail of GH800,000 by a Ghanaian court.

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A 52-year-old businessman appeared in Adentan Circuit Court on charges of defrauding a colleague of $100,000.

According to reports, Kofi Antwi Nkansah approached the complainant, Kwasi Agyemang Siaw, to help him obtain a $100,000 loan for his business.

Nkansah was to write checks that would be deposited into his two bank accounts, Stanbic and Zenith.

When Nkansah’s cheques were presented at Stanbic Bank, his account had been closed, whereas the accused’s account at Zenith had insufficient funds.

Nkansah pleaded not guilty to charges of defrauding by false pretenses and issuing false cheques.

When Nkansah’s cheques were presented at Stanbic Bank, his account had been closed, whereas the accused’s account at Zenith had insufficient funds.

Nkansah pleaded not guilty to charges of defrauding by false pretenses and issuing false cheques.

He begged the court for more time so he could pay the complainant, claiming that business had been slow.

Since then, Nkansah has refunded GH50,000 of the $100,000 he received from the complainant on May 12, 2018.

The accused, who had no legal representation, was granted bail in the amount of GH800,000 with four sureties, one of whom had to be justified.

The court, presided over by Sedinam Awo Balokah, directed that the sureties be identified.

It postponed consideration of the matter until October 7.

According to the prosecution, led by Chief Inspector Maxwell Lanyo, the complainant, Mr Siaw, is a businessman.

Chief Inspector Lanyo stated that on May 5, 2018, Nkansah approached the complainant and requested $100,000 from his bank, Equity Savings and Loans, and that he issue cheques to be debited to his accounts at Stanbic and Zenith banks.

According to the prosecution, the complainant agreed and obtained the loan for Nkansah, but all cheques were returned because the Stanbic account had been closed and the Zenith account had insufficient funds.

According to the prosecution, the accused persuaded the complainant not to present the cheques because he planned to settle him with cash, but the accused broke his promise.

A report was made to the police on May 18, this year, and the accused was arrested.

During the investigation, Nkansah paid GH50,000, which was returned to the complainant, according to the prosecution.

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