Businessman bailed GH¢400,000 over alleged US$3.5 million investment fraud
By DL NEWS
Published
1 min read
According to the prosecution, Mohammed represented to the complainant that arrangements could be made to transport the investment funds to Nigeria to support the proposed business venture.
The Achimota Circuit Court has granted bail to a 53-year-old businessman, Amadou Mohammed, who is standing trial for allegedly defrauding another businessman of US$3.5 million in a proposed investment arrangement involving Nigeria.
Mohammed is accused of obtaining the money from Mukhtar Haliru Tambuwal after allegedly convincing him that he could facilitate the transfer of a US$400 million investment fund to Nigeria for a business partnership.
The alleged transaction took place in Accra in 2022.
According to the prosecution, Mohammed represented to the complainant that arrangements could be made to transport the investment funds to Nigeria to support the proposed business venture.
The prosecution contends that the accused knew the representation was false but nevertheless persuaded the complainant to part with US$3.5 million.
Following the allegations, Mohammed was charged with defrauding by false pretence, contrary to Section 131(1) of the Criminal Offences Act, 1960 (Act 29).
He pleaded not guilty when the charge was presented before the court.
The presiding judge, Her Honour Mrs Akosua Anokyewaa Adjepong, subsequently admitted him to bail in the sum of GH¢400,000 with two sureties, whose justification must be supported by landed property.
The case has been adjourned to November 24, 2026, for further proceedings.
The prosecution will be required to establish the allegations against Mohammed through evidence presented before the court.
The accused remains presumed innocent unless and until his guilt is established in accordance with the law.
