An Accra High Court presided over by Justice Isaac Addo denied a bail application for two businessmen accused of orchestrating a gold scam valued at two million Ghana Cedis. According to a Graphic Online report the court determined that the suspects should remain in custody to ensure they do not interfere with ongoing police investigations. The prosecution alleged that the accused persons lured a foreign national into a fraudulent gold purchase agreement before failing to deliver the promised minerals.
Court records cited by GhanaWeb indicate that the two men face charges including conspiracy to commit a crime and defrauding by false pretense. The prosecution argued that the complexity of the case and the substantial amount involved necessitated continued detention. State attorneys informed the court that several key witnesses are yet to provide statements regarding the financial transactions that occurred during the alleged scam according to a Citi Newsroom report.
Defense counsel argued for bail by stating that the accused persons are reputable businessmen with fixed places of abode who would not flee the jurisdiction. However the presiding judge noted the gravity of the offense and the potential risk of the suspects evading trial if released at this stage. The court emphasized the need for the police to conclude their verification of bank records and electronic communications related to the two million cedi transfer as reported by the Ghana News Agency.
The session ended with the court adjourning the matter until mid February to allow the prosecution to file witness statements and formal disclosures. This case highlights a series of recent enforcement actions by the Ghana Police Service against gold related fraudulent activities targeting international investors in the capital. The identity of the foreign investor remains protected under standard prosecutorial protocols while the suspects maintain their innocence against all charges brought by the state.