• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

‘Investor’ who promised clients cars and TV sets as returns jailed 20yrs

07/04/2019
Reading Time: 2 mins read
western_investment
405
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

A High Court in the Upper West regional capital, Wa has sentenced one Hassan Fuseini to 20 years imprisonment for defrauding under false pretences.

The convict, alias, Inner set up Western Investments which he used to defraud more than 200 people in Wa and its neighbouring towns.

The scheme promised 100% percent returns on investments which lured many unsuspecting persons to deposit their monies with them.

In order to entice more people, Western Investments gave goodies of cars, motorbikes and television sets to the first batch of depositors.

The company, however, folded up after it was unable to meet its obligations to clients.

Inner and his accomplices abandoned post and went into hiding.

When did the court proceedings begin?

In 2014 police apprehended Inner and his colleagues and put him before the court.

The then suspects pleaded not guilty to conspiracy to defraud under false pretences and defrauding under false pretences.

After five years of trial, the court, presided over by Justice Kwesi Boakye found them guilty of both counts and sentenced Inner, the mastermind to 20 years imprisonment in hard labour.

His accomplices who he used to mobilise the funds were fined GH¢4,800.

How much was lost?

Joy News’ Rafiq Salam reports that Western Investments got at least GH¢20 million from their clients.

A customer who spoke to Joy News said she deposited GH¢50, 000. She says she could have used the money for something beneficial and so she is pleading with authorities to help retrieve some, if not all of the money.

Another customer said if he knew Inner was the one behind the company, he wouldn’t have invested.

“He is a used clothes trader in the market and we all know him,” he lamented.

Credit: Myjoyonline

Previous Post

Goldcorp shareholders approve Newmont’s $10bn takeover bid

Next Post

Ghana and South Korea sign MoU to boost revenue mobilisation

Related Posts

Investment diversification

What Putin’s war teaches about Investment Diversification

16/03/2022
Menzgold to pay customers, ghanatalksbusiness.com

How Menzgold intends to pay its customers from December 2021

11/10/2021
Ponzi schemes in Ghana

Beware of the 3 alleged Ponzi schemes in Ashanti, Greater Accra, and Northern Regions

22/07/2021
Ponzi schemes in Ghana

How Prone are you to Ponzi Schemes?

16/06/2021
Real estate investors, ghanatalksbusiness.com

Where should Ghanaian real estate investors put their money? Why London will be at the top of the 2021 wish list

11/03/2021
Investment products in Ghana

Choosing the safest investment products in Ghana, as SEC raises red flag on 2 investment firms

18/01/2021
Next Post
GRA_signs_MoU

Ghana and South Korea sign MoU to boost revenue mobilisation

listen to employees

As Your Team Gets Bigger, Your Leadership Style Has to Adapt

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2023 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2023 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In