Nana Kwame Gyamfi, Director of Unity Investment Company, was on Friday arraigned before an Accra Circuit Tribunal for defrauding an Egyptian of 242,000 dollars under the pretext of buying and exporting gold bars to him in Egypt.
Nana Gyamfi, who pleaded not guilty to conspiracy to commit crime and defrauding by false pretences, was granted 500 million cedis' bail with three sureties, two to be justified. He is scheduled to re-appear on January 10, 2002.
Prosecuting, Assistant Superintendent of Police James Abraham told the tribunal, chaired by Mr Imoru Ziblim, that the complainant, Mr Hany Sabet Said Ibrahim, Managing Director of El King for Exports and Imports Company based in Egypt, met Gyamfi and two others at large for business discussions sometime last September.
After holding several business meetings, Gyamfi and the two others agreed to export 96 kilograms of gold bars from Ghana to Egypt for the complainant. Mr Ibrahim gave Gyamfi 242,000 dollars being part payment for the commodity.
Mr Abraham said on October 17 a shipment of what was supposed to be the 96 kilograms of gold from Ghana arrived in Cairo but were found to be wooden bars weighing 52 kilograms. A report was made to the National Security Coordinator and Gyamfi was arrested.
