A man accused of defrauding investors of GHC5 million has been remanded in custody. The Kumasi Circuit Court made the decision.
The accused is 45 years old. He allegedly promised people big profits from investments that did not exist.
The total amount lost by investors is estimated at GHC5 million. This is according to court filings.
The court is holding the man while police continue their investigation. He has not yet entered a plea.
This case highlights the risks of investment fraud. Authorities urge the public to be cautious of promises of unusually high returns.
The Ghana Police Service is investigating the matter. Further court dates will be set.