Micro finance manager arrested for fraud

Page 30: The Mirror, May 5, 2012. By Albert K. Salia THE manager of Gold Consult Micro-Finance Limited, Ebenezer Inkum, has been arrested for allegedly defrauding some clients of the company to the tune of more than GH¢20,000. Inkum claims to have engaged 13 staff members who went round the markets in Accra to convince traders to save with his company for loans in return. Although he claimed to have given out loans to some of the clients, Inkum could, however, not refund the savings of other traders to them. He was arrested after eight of the clients reported his conduct to the Adabraka police. The Crime Officer of the Adabraka Police Station, Deputy Superintendent of Police (DSP) Mr Ebenezer Nketiah, told The Mirror that when the police requested for Inkum’s company bank statement, there was nothing in the account. He said investigations have so far revealed that Inkum often told his clients that after saving with the company for between two to three months, they (clients) would be entitled to loans based on their savings. Mr Nketiah said some of the clients have saved between GH¢100 to GH¢3,000. According to him, investigations have also revealed that the company, although registered at the Registrar-General’s Department, was not licenced by the Bank of Ghana to engage in micro-finance activities. Inkum, he said, told the police that the company started operations in October last year. While this reporter was at the Adabraka Police Station, a victim of the Gold Consult Micro-Finance Limited, scam, Mr Francis Sebuna, who heard of the arrest of Inkum, rushed to the station with a letter of guarantee from Inkum for him (Sebunu) to take away three computers and an air-conditioner from the office in the event that he (Inkum) was unable to refund an amount of GH¢524 to him on a day they agreed on. The letter, dated April 24, 2012 and jointly signed by Inkum and Mr Sebunu read: “I Ebenezer Inkum on behalf of Gold Consult Micro-Finance Ltd owe Mr Francis Sebuna (sic) an amount of GH¢525 and promise to pay by Friday, April 27 2012. He has the right to take away three computers and one air-conditioner if I fail to pay the money on the said date.”