A businessman named Prince Amponsah is now in police custody. He is accused of taking money from more than 800 investors.
The amount involved is believed to be GHC50 million. This money was allegedly taken through dishonest means.
Court documents show that Amponsah faces serious charges. These include conspiracy to commit a crime.
He is also charged with defrauding people by using false pretenses. This means he allegedly tricked people into giving him money.
Further charges include money laundering. This suggests he may have tried to hide the origin of the illegal money.
The police have stated that the investigation is ongoing. They are gathering evidence related to the alleged fraud.
Amponsah has been remanded. This means he will stay in police custody while the investigation continues.
The case highlights the risks involved in certain investment schemes. Authorities urge the public to be cautious.