71-old man in police grip for operating financial scam

Kumasi, Feb. 24, GNA - A 71-year old man and an accomplice have been arrested by the Bureau of National Investigations for operating a financial scam.

Nana Ekow Sam and Reuben Mensah, 48, have been handed over to the Ashanti Regional Police Criminal Investigations Department. A third person, Bright Ntow, is, however, on the run.

They operate the Super Global Susu Network, a dubious micro-finance company and have swindled 101 individuals of a total of GH¢69,000.00. Police Chief Inspector Mohammed Yussif Tanko of the Regional Police Pub= lic Affairs Unit told the media in Kumasi that their arrest followed a tip of= f. They baited their victims with the promise of tripling whatever amou= nt of money they deposited with the company after three months. Customers, who deposited smaller amounts of money, received thrice the amount they saved with the company.

He said through this trick more clients were won over, depositing huge sums of money. At the maturity period, they were neither paid their money nor the interest, and this heightened their suspicion that they were into bad business.

Receipt books and other documents used by the suspects in their operations were seized after the arrest. Chief Inspector Tanko urged the public to be more careful in their business transactions. 24 Feb. 10