An Accra Circuit court has granted bail to four embattled operators of microfinance institutions in the Brong Ahafo region. The four have been charged with fraudulent breach of trust.
The four Martin Delle, Managing Director of DKM Financial Services; Noel Nortey, Nkoranza Branch Manager of God Is Love Fun Club; Charles Asum, Managing Director of Jastar Group of Companies and Monica Afriyie popularly called Maame Korkor, Managing Director of God Is Love have been granted bail ranging from 20 million to 80 million cedis.
They will reappear in court on February 11. The court has however instructed them to report to the BNI every Thursday.
Justice Aboagye Tandor , the judge hearing the case said the managing director of DKM financial Services is also to pay six million cedis as security deposits and also report to the police once a week alongside the other operators indicted in the scam.
After a series of agitations, customers of some of the microfinance companies in the Brong Ahafo Region can now heave a sigh of relief as the Bank of Ghana (BoG) has now taken a firm decision to ensure that their deposits, which have been locked up in the companies, are paid.
The central bank has now decided to liquidate the assets of two of the microfinance companies and use the proceeds to pay the deposits of the customers.