Two in court for allegedly siphoning more than GH¢250,000 from company’s account

Three people accused of siphoning GH¢252, 923.92 from the account of Afro Arab Company Limited, a micro finance company, have been hauled to court.

At the Dansoman Circuit Court, two out of the three accused persons were present.

The two, Michael Kumi Arhin, unemployed, and Michael Assibu, a Finance Manager, have pleaded not guilty to the charges of Conspiracy to commit crime, to wit, stealing and stealing.

One Grace Adade, the third accused person, is said to be at large.

Arhin and Assibu who had legal representation, pleaded not guilty before the court presided over by Mrs Halimah El-Alawa Abdul- Baasit.

The court has admitted Arhin and Assibu to bail in the sum of GH¢300,000 with three sureties, one to be justified with title deed.

It further ordered the two accused persons to be reporting to the Police once every two weeks until directed otherwise.

The matter has been adjourned to October 14, 2024, for Case Management (CMC).

Earlier, defence counsel of the accused persons prayed for bail, saying the accused pleaded not guilty to the charges indicated that they have a defence to put up against the charges preferred against them.

Defence counsel indicated to the Court that the accused persons were on Police enquiry bail since 2023 when they were arrested.

According to defence counsel, the accused persons since then had not attempted to run away from the country “so they are not flight risk at all, and they would make themselves available.”

Prosecution led by Chief Inspector Christopher Wonder, did not oppose the bail but stressed that the conditions of the bail should be compelling for them to appear to stand trial any time they were needed.

Prosecution said the Police were still looking for the third accused, Grace Adade.

As narrated before the court, prosecution said the complainant was one Ebenezer Egir Tetteh, the General Manager of Afro Arab Company Limited, Kokomlemle in Accra and the company was into the operation of microfinance,

Prosecution said the three accused persons were former employees of the company.

It said somewhere in the year 2022, Arhin, a loan officer in the company, created an account in the company’s system for his girlfriend, one Ruth Adomah as a customer with an account with the company.

The prosecution said thereafter, Arhin started crediting the said account with a series of monies through the help of Grace Adade who was then a teller with the approval of Assibu, the then Financial Manager.

The Court heard the accused persons continued those transactions by crediting the account with several monies and they shared the money among themselves after withdrawal.

Prosecution said somewhere in December 2022, Assibu resigned from the company when he sensed danger.

In January 2023, one Gabriel Quaye, a witness in the case, took over from Assibu as the Financial Manager in his attempt to prepare financial statements, it was detected that Assibu was still having access to the company’s accounts system.

The court heard that on April 28, 2023, the matter was reported to the Police and Arhin and Assibu were arrested but Grace Adade managed to escape.

Prosecution said May 29, 2023, an audit was conducted into the company’s account system by an external Auditor, who is also a witness in the case.

The prosecution said it was detected that Assibu was still approving transactions made by Grace Adade into the account created by Arhin and five additional accounts by the accused persons as customers of the company in the names of: Mariama Ibrahim, AminaShaibu, Samira Alhassan, Sakinatu Mohammed and Joseph Agbotsey, even as he had resigned from the company.

The Court heard that the accused persons succeeded in stealing cash in the sum of GH¢252,923.92, belonging to the company.

It said during interrogation, the accused persons admitted the offences and refunded GH¢72,000 which has been released to the complainant.

Prosecution said efforts were being made to arrest Grace Adade who is at large.

Source: GNA

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