- Currency Trader Charged with Fraud
- $14,000, 800,000 Naira Allegedly Misappropriated
- Accused Granted GH¢300,000 Bail
A currency trader, Mahamud Adams Sidik, has been brought before an Accra Circuit Court, facing allegations of fraud involving significant sums of money from three individuals.
Sidik is accused of dishonestly appropriating a total of $14,000 and 800,000 Naira from the traders, who were reportedly misled into believing that depositing their funds into a friend’s account would help them avoid potential armed robbery attacks in Nigeria. This was in connection with their plans to purchase goods for sale in Ghana.
After collecting the money, Sidik allegedly went into hiding, leading to his arrest. He has been charged with three counts of fraudulent breach of trust and has pleaded not guilty to the charges.
During proceedings, the court granted him bail in the amount of GH¢300,000, with two sureties required to justify their status. The case has been adjourned until November 25, 2024.
The prosecution, led by Inspector Mina Kwafo, detailed that the complainants—Wango Abdul Karim, Twaficatu Alhassan, and Rakia Urman—are businesspersons residing in Accra New Town and Sapeiman. Sidik also lived in Accra New Town.
According to the prosecution, Sidik collected cash from the complainants in three separate instances: $1,000 in 2022, $13,000 in 2023, and 800,000 Naira in 2024. He assured them that their money would be sent through his friend’s bank accounts in Abidjan and Nigeria to prevent any risks of robbery, promising they could withdraw the funds upon arrival at their destinations.
However, once Sidik collected the money, he failed to fulfill his promise, and all attempts by the complainants to retrieve their funds proved unsuccessful.
The prosecution further stated that Sidik was apprehended in Ashiaman, where he admitted to the offense in a caution statement made in the presence of an independent witness.
