Lawyers representing the four operators of some microfinance companies in the Brong Ahafo Region have described the bail sum of GH¢150 million set by an Accra Circuit Court for their clients as “unreasonable.”
According to the lawyers, “the effect is to deny them bail” since they cannot meet such bail conditions and are considering moving to a high court to challenge the bail condition handed their clients.
The four: Martin Delle, Managing Director of DKM Financial Services; Noel Nortey, Nkoranza Branch Manager of God Is Love Fun Club; Charles Asum, Managing Director of Jastar Group of Companies and Monica Afriyie popularly called Maame Korkor, Managing Director of God Is Love were arrested by the Bureau of National Investigations (BNI) and have been charged with fraudulent breach of trust.
Bail terms
At the Circuit Court presided over by His Honour, Mr. Aboagye Tandoh, the accused persons were granted bail with different sums and conditions.
In respect of the 1st and 2nd accused persons, Ms. Afriyie and Mr. Nortey respectively, their bail conditions were the sum of GH¢50 million, five sureties with two to be justified and a security deposit of GH¢5 million each.
For Mr Asum, the bail sum is GH¢20 million, three sureties one to be justified and a security deposit of GH¢ 2 million, while the Managing Director of DKM, Mr. Martin Delle's bail sum is GH¢80 million, four sureties two to be justified and a security deposit of GH¢6 million.
The indicted microfinance operators are alleged to have collected various sums of money running into several millions of Ghana Cedis from their clients, promising them huge interests of not less than 50 per cent.
Some people are said to have committed suicide in the Brong Ahafo Region after failing to retrieve their monies from the microfinance companies.
Bail conditions unreasonable
Expressing his frustration to the media after the case was adjourned to February 11, 2016, one of the lawyers of the accused persons, Lamptiig Apamga said they find the court's decision surprising and shocking.
“Our clients were granted bail because we earlier prayed for bail for our clients. Today, in court we were granted bail. However, the court set the bail conditions that got all of us a bit surprised.”
“In my client's (Charles Asum) case for instance, he is charged with the offence of fraudulent breach of trust involving an amount of GH¢22,500.00 by one complainant called Stephen and the court in its ruling said he is being granted bail on the bail sum of GH¢20 million and in addition they need three sureties to be justified and they are supposed to pay GH¢1million as security deposit in court.
“Indeed, the amount in which the complainant has come to court for was GH¢22,500.00 far below GH¢50, 000.00, so the normal practice we all know happens in court is that usually, the court will set bail conditions to ensure that the accused person will appear in court and this bail conditions are often not supposed to deny the person bail because if he is unable to meet the conditions it obviously means that bail has been denied.”
According to him, “If the court and the usual practice is to multiply the amount by two, sets out GH¢50, 000.00, it is still far below the security deposit of GH¢1m. Therefore, we think that in our humble opinion the court has constructively denied them bail by setting conditions they cannot meet.
Background
Martin Delle, the Chief Executive Officer of DKM Financial Services, has appeared before an Accra circuit court for allegedly dishonestly appropriating GH¢ 40,000.00. The accused, who was earlier alleged to be on the run, was purported to have misused the said amount of money belonging to one Kwaku Charles.
Three other accused persons – Monica Afriyie, Nortey Noel, both Directors of God Is Love Fun Club and Charles Asum, Director of JASTAR Motors – believed to have taken various sums of money from several people, had already been hauled before the court.
Mr. Delle denied the charge of fraudulent breach of trust.
Prosecuting, DSP Abraham Annor said all the suspects, by the same modus operandi, informed their various clients that when they deposit monies in their various companies they would be given a 50% interest at the end of every three months.
He said based on the promise, the complainants deposited various sums of money, adding that at the end of the said three months when the complainants went to their respective companies, they realised that their monies had been locked up, with the whereabouts of the operators unknown.
The court further heard that a report to the BNI led to the arrest of the accused persons.
DSP Annor disclosed that in the course of investigation, it was revealed that Afriyie and Noel, through the same modus operandi, succeeded in taking deposits from several customers worth GH¢100 million, Asum GH¢20 million and Delle GH¢80 million.
<<Print>>