Business News of 2014-07-04

Susu collectors steal contributors’ money

Two former employees of the Christ Apostolic Family and Susu Fund based at Ejisu have been convicted by a Kumasi circuit court for embezzling funds belonging to the company.

The two allegedly stole a total of GH¢5,500 being savings of customers of the fund.

Leticia Agyeman and Selina Sarpong both pleaded guilty to one count of stealing and were convicted on their own plea by the court, presided over by Mr D. W. P. Amedior.

Agyeman, who stole GH¢3,300, was fined GH¢240 or in default, serve six months in jail, while Sarpong, who stole GH¢2,200, was also fined GH¢180 or in default, spend four months in jail.

They will in addition to the fines, refund the money involved to the complainant, who is the managing director of the fund.

Presenting the facts of the case, Chief Inspector Frimpong Manso said both convicts were former employees of the funds at Okyerekrom near Ejisu.

He said part of their duties included collecting daily savings from the fund’s customers, entering the amount collected in the booklets of the customers and that of the fund.

However, he said when their books were audited, it was discovered that the two entered different figures into the booklets of the customers from what they entered into that of the company.

According to the prosecution, the two deliberately understated the customers’ savings and pocketed the difference.

He said somewhere last year, the company detected the discrepancies and when their books were audited, it was discovered that Agyeman had a shortfall of GH¢3, 300, while Sarpong’s was GH¢2,200.

The case was reported to the police and they were arrested.