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Page last updated at Wednesday, June 29, 2011 8:08 AM //
A 32-year old kente-weaver, who has been operating a financial scam in the Atwima-Mponua District is now in the firm grip of the law.
Joseph Addai Munumkum, is standing trial at the Nkawie Circuit Court for swindling some unsuspecting farmers and traders of a total of GH¢6,545.00.
He denies the offence and is on a GH¢10,000.00 bail.
Police Chief Inspector Philip Bidipumi Jagri told the court, presided over by Justice Noble Nkrumah that, the accused posed as Director of Reliable Traders and Farmers Financial Association, a non-existing company, and went round deceiving people that he could help them with loans to expand their farms and other businesses.
Those, who showed interest were made to fill loan application forms and paid between GH¢10.00 and GH¢25.00.
The prosecution said the understanding was that having paid the deposit, the applicants were to receive loans ranging between GH¢200.00 and GH¢700.00.
Addai Munumkum, however, went into hiding after collecting those monies.
Some of the victims made a report to the police and he was arrested at his hide-out.
He would make his second appearance in court today.
Source: GNA
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32-year old weaver in trouble for financial scam