Accra, July 26, GNA – An Accra Circuit Court has granted bail to a 45-year-old man for defrauding Star Steels Limited of GH100,500.00 worth of iron rods.
Kwadwo Fosu allegedly obtained the goods from the company and issued an Agricultural Development Bank cheque for GH100, 500.00 knowing that there were insufficient funds in the account to cover the amount.
Fosu pleaded not guilty to charges of deceiving through false pretenses and issuing a fake cheque.
He was granted GH150,000.00 bail with two sureties by the Court presided over by Mr Samuel Bright Acquah.
The court ordered that one of the sureties be justifiable and the other be a regular Ghanaian citizen.
The Court also ordered Fosu to report to the police once a week.
The case has been adjourned to August 9, 2023.
The prosecutor, Police Chief Inspector Agartha Abena Asantewaa, told the Court that the complainant, Mr Isaac Amo, is a representative of Star Steels Limited and lives in Nsawam, while Fosu is the Chief Executive Officer of Fosu Gyeabour Transport and Training Enterprise and lives in Berekum.
According to the prosecution, Fosu purchased iron rods worth GH220,000.00 from the management of Star Steels Limited on October 14, 2021.
Fosu made a partial payment of GH119,550.00 before issuing post-dated Agricultural Development Bank cheques to cover the remaining payment for the iron rods.
However, when the cheques were presented for payment on the due date, they were returned unpaid.
The prosecution said, as a result, Amoo filed a petition for assistance.
Investigations revealed that Fosu issued post-dated Agricultural Development Bank cheques for GHS 100, 500.00 to Amoo despite not having sufficient funds in his accounts.
