The Wa High Court has sentenced one Hassan Fuseini to 20 years in prison for defrauding under false pretences. The convict, alias Inner, said to have been selling second hand clothes, set up an micro-finance company, Western Investments, promising a 100 per cent return on investments as well as cars, motorbikes and television sets to the first batch of depositors.
The scheme, which yielded about GH¢20 million worth of investments from clients, is said to have affected about 200 people in Wa and its environs.
The convict and his three accomplices;Abdul Raman Osman, Osman Safron Laryea and Abdulai Bayis, abandoned post and went into hiding after failing to meet their obligations to clients.
They were arrested in 2014 and put before court.
They initially pleaded not guilty to the charges of conspiracy to defraud under false pretences and defrauding under false pretences.
However, the court, presided over by Justice Kwesi Boakye found them guilty of both counts and handed Inner a 20 year jail term.
His accomplices whom he used to mobilise the funds were also fined GH¢4,800 or in default spend five years in prison.
Source: graphic.com.gh
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Perfect sentence. But if these judges who have been giving people 20years are still in Ghana, I beg them to give the same 20years to politicians because they are normally given two to three years after robbing nation of huge sums of money. After two years if there is a change in government, they are pardoned to go back and chop the stolen money with their family. This is not fair at all.
'set up an micro-finance company, Western Investments, promising a 100 per cent return on investments as well as cars, motorbikes and television sets to the first batch of depositors.' When will Ghanaians LEARN SENSE? After NAM1, this thing can also happen again? I do not thing Ghanaianas will EVER learn from these PONSY schemes! After PIRAM, R5, and others?
Ghana itself is a ponzi scheme. why ? the nation borrows to pay maturing debts if we stop borrowing we can not pay our maturing debts
C. K. AKUNNOR LOOK ALIKE
What about the recovery of the amount mobilized? Wicked Ghanaians now uses churches, loans and savings, investment this and that like GCFM, Ponzi schemes to squeeze the earnings of innocent Ghanaians. We have wicked regulatory institutions who prefer to warn thousands of people in newspapers which are scarcely read by the people but cannot deal with the one man perpetuating this crime against humanity. Wicked country silently killing innocent Ghanaians. The anger of the people will explode one day.