FRAUDSTER WANTED BY POLICE (Back Page)

15/01/08

Story: Mary Mensah
The Operational Manager of Kudi Foundation, a micro finance company, is wanted by the Criminal Investigations Department (CID) of the Ghana Police Service, for defrauding by false pretences.
The suspect, Rev. Michael Owireku Asamoah, is believed to be a member of the Christ Citadel Church at Achimota Mile 7 in Accra.
He is alleged to have collected various sums of money from traders under the pretext of offering them soft loans without collateral and bolted.
The Deputy Director-General of the CID, ACP Ken Yeboah, told the Daily Graphic that Kudi Foundation was a company that provided soft loans for market women and petty traders and that it started operations in Kumasi sometime ago.
He said the company was well established in Kumasi so the owners decided to open a branch in Accra and though they had acquired offices they had not started operating yet as they were awaiting funds from their financiers before kicking off.
Mr Yeboah said Rev Asamoah, who was employed as the Operational Manager, took advantage of the delay in starting the operations and managed to convince some of the traders that he could give out any amount of loan without a collateral and this attracted a number of traders.
He said the suspect demanded two per cent of the loan amount required by each applicant as facility fee for the processing of documents.
The deputy director said a trader requested for GH¢17,000 loan and she was made to pay GH¢340 as two per cent of the amount and asked to wait for sometime.
He said while waiting for the money she introduced another friend, a car dealer, and he also requested for GH¢100,000 and was made to pay GH¢2,000 as facility fee.
Mr Yeboah said after collecting the money, anytime they approached Asamoah for the loan he told them to come back in a week’s time and when the money was not forthcoming they informed the CEO of the foundation.
He told them that the company had not started operating yet so they should look for Rev Asamoah and collect their money from him.
He said when all efforts to apprehend him had failed a report was made to the police and investigations so far had revealed that a number of traders had also fallen victim to the activities of the suspect.
He said the suspect was believed to be hiding in either Pokuase or Kumasi and appealed to any member of the public with information about his whereabouts to report to the CID headquarters in Accra.