A 44-year-old businessman, Anthony Appiah, has been accused of allegedly defrauding a businesswoman of GH¢480,000 under the pretext of securing a product distribution contract with BEL-AQUA Company.
Appiah has appeared before an Accra Circuit Court, where he was charged with defrauding by false pretences. He pleaded not guilty to the charge and was granted bail of GH¢500,000 with two sureties.
One of the sureties is required to be a public servant earning a monthly salary of at least GH¢4,000.
How the Alleged GH¢480,000 Fraud Happened
According to the prosecution, the alleged incident dates back to May 2025, when Appiah reportedly visited the complainant at her residence in Accra.
The prosecution told the court that Appiah claimed he had secured a distribution contract with BEL-AQUA Company and needed US$50,000 to execute the agreement.
He allegedly assured the businesswoman that the money would be refunded within two weeks. Relying on the representation, the complainant reportedly handed him GH¢480,000.
However, the businessman allegedly failed to repay the money within the agreed period, prompting the woman to seek clarification from the company regarding the purported distribution deal.
BEL-AQUA Reportedly Denies Issuing Contract
When the complainant contacted BEL-AQUA Company to verify the alleged agreement, she was reportedly informed that the company had neither awarded Appiah a distribution contract nor engaged him in any official capacity.
The revelation raised concerns about the circumstances under which the money had been obtained.
After unsuccessful attempts to recover her funds, the businesswoman petitioned the police, leading to Appiah’s arrest and subsequent investigations.
Court Grants Businessman GH¢500,000 Bail
Appiah was subsequently arraigned before the Accra Circuit Court on a charge of defrauding by false pretences.
He denied the allegation and was granted GH¢500,000 bail, subject to the stated surety conditions.
The case highlights the importance of verifying business contracts, distribution agreements and investment opportunities before transferring substantial sums of money.
Members of the business community are encouraged to confirm contractual arrangements directly with the relevant companies and obtain appropriate documentation before making financial commitments.
The allegations against Appiah remain subject to the court process.
Source: newsthemegh.com