The High Court in Accra has revoked the bail granted to Yaw Adu-Agyei Gyamfi.
Mr. Gyamfi is the CEO of Danadams Pharmaceuticals.
The court took this step because he allegedly misled the court about his travel history.
This misinformation came up during his ongoing trial.
He is facing charges of fraud and money laundering.
The Judicial Service stated that providing false information to the court undermines the legal process.
Revoking bail ensures the defendant is present for future court proceedings.
The investigation into the fraud and money laundering charges against Mr. Gyamfi will continue.