The Criminal Division of the Accra High Court handed down a ten year prison sentence to a thirty five year old businessman according to reports from Graphic Online and GhanaWeb. The court found the individual guilty of defrauding by false pretenses and money laundering in a case involving a gold bullion transaction. The prosecution argued that the convict received two point five million Ghana Cedis from a foreign investor under the guise of supplying fifty kilograms of gold.
Court proceedings detailed by the Daily Guide Network indicate the convict presented himself as a legitimate gold dealer with access to mining concessions. The investor reportedly transferred the funds in several installments before realizing the gold did not exist. During the trial the presiding judge noted the gravity of the offense and the impact of such activities on the reputation of the Ghanaian mining sector as reported by Citi Newsroom.
The Ghana Police Service initially apprehended the suspect following a formal complaint by the victim. Evidence presented by the prosecution included bank statements and communication logs between the parties. While the defense argued for a non custodial sentence the court determined that a decade in prison was necessary to deter similar fraudulent schemes as stated in various court reports.
According to the Graphic Online report the convict failed to return any of the diverted funds during the trial period. The verdict includes an order for the convict to repay the full amount to the victim in addition to his prison term. This case is part of a broader effort by the Ghanaian judiciary to crack down on gold related scams affecting foreign direct investment.