The Ashanti Regional Police Command has arrested two men as part of an investigation into fraud.
The two are accused of taking GHC157,000 from a Swedish national.
Authorities say the suspects tricked the victim by pretending to be business partners.
They allegedly promised a chance to invest in a gold mining operation.
However, the Ghana Police Service stated that no such mining venture was ever real.
The arrest was made following a report by the defrauded individual.
Investigations into the alleged scam are continuing.
Further legal action will follow the completion of the police inquiry.