Home News Why Currency Trader is Facing Fraud Charges in Accra

Why Currency Trader is Facing Fraud Charges in Accra

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A currency trader named Sidik has been brought before an Accra Circuit Court for allegedly misappropriating funds from three traders. The prosecution stated that Sidik collected sums of $1,000, $13,000, and 800,000 Naira from complainants Wango Abdul Karim, Twaficatu Alhassan, and Rakia Urman.

Sidik reportedly told them he would transfer the money to Abidjan and Nigeria through a friend’s bank account, claiming this would protect the funds during their business trips. However, after collecting the money, Sidik allegedly went into hiding and failed to deliver on his promises.

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Sidik was later apprehended in Ashiaman, where he admitted to the offense in a caution statement witnessed by an independent party. Charged with three counts of fraudulent breach of trust, he has pleaded not guilty. The court has granted him bail in the amount of GHC 300,000 with two sureties, with the case set to continue on November 25, 2024.

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