Businessman in court over alleged GH₵320,681 fraud

An Accra circuit court has granted bail to a business to the tune of GH₵400,000.00 with four sureties, for allegedly defrauding a company of GH₵320,681.60.

Mr Elvis Owusu-Ansah, 41, allegedly failed to execute a contract for Modex Oil after collecting GH₵320,681.60 from the Chief Executive Officer of the company for the undertaking.

He was charged with defrauding by false pretence, fraudulent breach of trust and forgery of official documents. He pleaded not guilty.

Owusu-Ansah’s accomplice, Madam Nancy Sawyer, 37, also pleaded not guilty to abetment of crime.

The Court presided over by Oheneba Kuffour, admitted the accused persons to GH₵400,000.00 bail each with four sureties each.

It directed that two of the sureties should be justified.

The case has been adjourned to August 22, 2023.

Deputy Superintendent of Police (DSP) Emmanuel Nyamekye told the court that the complainant Mr Kwabena Appiah is the CEO of Modex Oil, and Owusu-Ansah and Sawyer were Managing Director and Secretary of Oaksel Essentials Limited, respectively.

The prosecution said Owusu-Ansah was a resident of Awoshie, Accra

It said in September 2021, Sawyer introduced Owusu-Ansah to Appiah as a sole proprietor who needed an infusion of capital into his firm, Syyno SAT Technologies.

The prosecution said the accused persons convinced Appiah to finance several supply contracts awarded to Owusu-Ansah by the University of Cape Coast.

It said that based on the representation made by the accused persons, Appiah did his due diligence at the University and confirmed the genuineness of the said contract. 

Appiah then asked the accused persons to form a new company called Oaksel Essential Limited to execute the contract.

The prosecution said the complainant appointed an employee of his firm, Daniel Kanger, as his representative on the board of directors, as well as a shareholder in the newly formed company. 

It said from September 15, 2021, to November 2021, Owusu-Ansah presented five separate genuine contracts awarded to Oaksel Essential Limited by the University to Appiah for the supply of Mac Book Pro, 55 Samsung television sets and other items totalling GH₵68,535.00.

The prosecution said Appiah paid for the total cost of the supply from his company’s Ghana Commercial Bank account.

The university paid off all five contracts from December 2021 to April 2022.

It said Between November 2021 and April 2022, Owusu-Ansah succeeded in collecting a total of GH₵ 320,618.80 from Appiah based on contracts supposedly signed by the Vice Chancellor of the University, Prof. Johnson Nyarko Boampong.

The prosecution said those contracts were for the supply of respirators, Cambria flat sheets, towels, pillows, bed sheets, dustbins, Lenovo laptops, Cisco products, APC batteries, Hewlett Packard scanners, appliances, Fridges, sponges, and Azar glue. 

It said cheques were issued to Owusu-Ansah with respect to all the contracts he presented to Appiah.

The prosecution said investigations revealed that all the contract documents that Owusu-Ansah presented to Appiah between November 12, 2021, and April 29, 2022, were falsified. 

Further investigation indicated that Owusu-Ansah had withdrawn the payments made by the University in respect of the first five genuine contracts for his personal use.

He failed to account for those funds.

The prosecution said the University confirmed to the police that the contracts presented to Appiah by Owusu-Ansah between November 12, 2021, and April 29, 2022, were all faked.