Businessman remanded for stealing

Accra, July 26, GNA - A 29-year old businessman, who succeeded in cashing an amount of 131 million cedis, belonging to a building contractor, was on Tuesday remanded in prison custody by an Accra Regional Tribunal.

Issahaku Yakubu, the businessman, pleaded guilty to two counts of forging documents and stealing with explanation, but the tribunal deferred ruling in the matter to ascertain from Alhaji Muhazu Haddy, the building contractor, who was not in court, whether Yakubu had refunded some of the money as he had made the court to believe.

Consequently, Mr Justice Frank Manu, chairman of the three-member tribunal, adjourned the case to Friday, August 5.

The case for the Prosecution was that in October 2003, Alhaji Haddy, a Tamale-based contractor, completed a health centre project at Tolon for the Ministry of Health.

As a result, the Tamale branch of the Ministry prepared a certificate in respect of the project, in the name of Haz-Haddy Enterprises, a company belonging to the Alhaji Haddy. When Alhaji Haddy proceeded to Accra to collect his money, he found to his utter dismay that, Yakubu, who was known to him, had gone to the Ministry with a letter purported to have emanated from Alhaji's company, but written and signed by the accused.

Yakubu allegedly instructed that the money be paid to Ivory Finance, a non-existing company, which he claimed to be its Managing Director, and succeeded in cashing the 131.089 million cedis. Later, the deal was exposed and when the Alhaji confronted Yakubu, he admitted the offence.

When all attempts to retrieve the money failed, Alhaji Haddy reported the matter to the Police.

In his explanation, Yakubu told the tribunal that the money he cashed was 103 million cedis, and not 131 millions cedis as was alleged by the Prosecution and that he had so far refunded 72 million cedis; 21 million cedis in bank draft, and 51 million cedis in cash in the presence of two witnesses.