Barclays branch manager embezzles GH¢130,000

Tarkwa (W/R), March 29, GNA - Frank Walayo Asamoah, Asankragwa branch Manager of Barclays Bank, Ghana is facing trial at a Tarkwa circuit court for allegedly embezzling GH¢130,022 belonging to the Bank.

Asamoah pleaded not guilty and was granted bail in the sum of GH¢150,000 while his alleged accomplice, Samuel Komila Dawo was also granted bail in the sum of GH¢15,000. They will re-appear on April 4, 2009.


Prosecuting, Deputy Superintendent of Police (DSP) Albert Adiita, told the court presided over by Mr Samuel Obeng Diawuo, that an internal audit conducted by the Bank early November last year revealed that Asamoah misappropriated the amount between May and November 2008. The court heard that Asamoah generated false internal debit vouchers and took cash from the vault and made reversal entries to suggest that he had paid those monies to ATM customers who, due to technical hitches, were unable to withdraw cash and had complained to the branch.


DSP Adiita said the case was reported to the Asankragwa police and during interrogation he admitted the offence and explained that he took that stand because management failed to pay some allowances due him. He said police investigations show that Asamoah gave GH¢12,700 to Dawo, a customer of the Bank to pay off a loan. He also transferred GH¢10,500 to the account of his wife, Eunice Asiedu, currently at large.

DSP Adiita said investigations revealed that Asamoah engaged two tellers of the Bank -- Felix Monney and Nyamedi Frankline Russel -- to sign his fictitious vouchers. He refunded GH¢16,370 to the police.


DSP Adiita said on December 12, 2008, Dawo was arrested and upon interrogation he told the police that Asamoah approached him for financial assistance and based on a mutual understanding, he gave him GH¢8,000.00 to be repaid with an interest of GH¢1,000 per month. Dawo reportedly told the police that Asamoah defaulted in the repayment and that he put pressure on him until October 2008 when he repaid the principal GH¢8,000 but deferred payment of the interest. Dawo claimed there was no document covering the transaction adding that he gave out the loan on mutual understanding. 29 March 09