Car dealer arraigned over misappropriation of vehicle proceeds

A 46-year-old car dealer has been arraigned on charges of the alleged misappropriation of proceeds from the sale of four vehicles belonging to a client.

Michael Damoah denied the charge of fraudulent breach of trust. He was granted bail set at GH¢150,000.00 with a surety.

The court, presided over by Samuel Bright Acquah, ordered Damoah to return on June 18, 2024.

Assistant Superintendent of Police (ASP) Raymond Ackom stated that the complainant, Evans Osei Agyemang, is a businessman residing in Canada. Damoah, a car dealer, resides in Afienya-Jerusalem, Tema.

The court was informed that in 2022, the complainant imported twelve saloon cars and entrusted them to Damoah to sell and deposit the proceeds into his (the complainant's) account.

After leaving for Canada, he returned to Ghana in May 2023 and approached Damoah to inquire about the cars.

To the complainant's dismay, ASP Ackom reported, Damoah could not account for four of the twelve cars, including a 2010 Toyota Corolla, a 2012 Kia Rio, a 2013 Nissan NV 200, and a 2012 Toyota Matrix, all valued at GH¢315,000.00.

As a result, on May 18, 2023, the complainant reported the incident to the CID Headquarters, leading to Damoah's arrest. The prosecutor revealed that investigations showed Damoah had sold the four vehicles to various individuals and misappropriated the proceeds.

During the investigation, Damoah repaid GH¢110,000.00 and subsequently paid an additional GH¢20,000.00 to the complainant in open court upon being charged."