The High Court in Accra has refused a bail application for four individuals accused of participating in a gold fraud syndicate that allegedly defrauded an international investor of 1.2 million dollars. Graphic Online reports that the suspects were remanded into custody following a court session where the prosecution argued against their release citing the ongoing nature of the investigation. The identity of the suspects and the specific details of the gold transaction were presented during the court hearing.
According to court reports from Citi Newsroom the four suspects allegedly lured the investor with promises of high purity gold bars before executing the fraudulent transaction. The prosecution stated that the sum of 1.2 million dollars was transferred to accounts controlled by the syndicate. The Ghana Police Service has been tasked with conducting further inquiries to locate additional suspects who are currently at large according to official court filings.
Defense counsel for the accused argued for bail on the grounds that the suspects are law abiding citizens with permanent places of residence. However the presiding judge ruled that the gravity of the charges and the risk of interference with evidence warranted continued detention. GhanaWeb reports that the court expressed concerns over the prevalence of gold related scams targetting foreign nationals within the capital.
The case has been adjourned until the end of February to allow the Ghana Police Service and the Office of the Attorney General more time to prepare their evidence. A report by the Daily Guide states that the court expects a progress update on the recovery of the allegedly stolen funds during the next hearing. The suspects remain in prison custody while the investigation into the wider network of the syndicate continues.