Forex Trader Remanded For Allegedly Defrauding Two Persons Of $300,000 And GH₵10million
- A 35-year-old forex trader, Benjamin Appiah Boateng, has been remanded into police custody by the Accra Circuit Court Nine for allegedly defrauding two persons
- Mr Boateng was accused of allegedly defrauding two persons of over $300,000 and GH₵10million
- Details of the case have emerged. Mr Boateng has been charged with stealing, and fraud, while the case has been adjourned to January 13, 2025
The Accra Circuit Court Nine remanded a 35-year-old forex trader, Benjamin Appiah Boateng, into police custody for allegedly defrauding two persons of substantial amounts through fraudulent online investments.
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Forex trader in court over scam
Boateng was accused of taking USD $300,000 and GH₵10,445,000 from Mr. Berry Kwadwo Agyapong, a business consultant, and Mr. David Burke, a businessman, under the pretext of investing in USDT (Tether) on Binance and other cryptocurrency platforms.
The court, presided over by Mr. Samuel Bright Acquah, did not take Boateng’s plea as investigations into charges of stealing and fraud were ongoing. The case was adjourned to January 13, 2025.
Background
Chief Inspector Jonas Lawer informed the court that Boateng, a trader from Oyibi, was introduced to Mr. Burke by Mr. Agyapong, who had already invested USD $300,000 in USDT on Binance and other cryptocurrency platforms. Mr. Agyapong touted the investment's profitability, persuading Mr. Burke to invest an initial GH₵555,000.
Encouraged by initial returns, Mr. Burke invested an additional GH₵9,890,000 through Boateng. The accused assured both complainants that the investments were yielding steady dividends, reinforcing their trust.
The Fraud Unravels
On December 14, 2024, Mr. Burke decided to withdraw his investment, requesting the return of his capital and any accumulated dividends. However, Boateng ceased communication, refusing to answer phone calls from both complainants.
Alarmed, Mr. Burke contacted Mr. Agyapong, who attempted to reach Boateng. In response, Boateng sent a WhatsApp voice note accompanied by what he claimed was an unaliving note. In the note, he admitted to betting away the investments on an online betting platform called Stake.
Arrest and Admission
A police report was filed, leading to Boateng’s arrest. During questioning, he confessed to the offences, admitting that he had squandered the funds through online betting.
The case has drawn significant attention due to the substantial sums involved and highlights the risks associated with fraudulent online investment schemes. Boateng remains in custody as investigations continue.
Purported Jubilee House security operative arrested
YEN.com.gh reported that Joseph Agemba, an individual claiming to be a National Security operative at Jubilee House, was accused of defrauding unsuspecting victims of GH¢1 million in a recruitment scam.
In addition to the recruitment fraud allegations, Agemba faced accusations of visa fraud and duping an individual in a car purchase deal.
The prosecution in the case requested that Agemba be remanded into police custody to aid further investigations. The suspect was scheduled to reappear in court on December 27, 2024.
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Source: YEN.com.gh
