The Juaso Circuit Court presided over by Mr. S. K. Sarpong Appiah, has granted bail to three persons in the sum of GH¢18,000 with two sureties each for allegedly defrauding 393 farmers of GH¢16,500 under the pretext of providing them loans.
Angelina Ateyam, 25, Collins Yamoah, 20, and Twumasi Asiamah, 24, all pleaded guilty to two counts of conspiracy to commit crime and defrauding by false pretence and will re-appear before the court on March 11.
Police Detective Inspector Eric Atatsi, presenting the facts of the case told the court that all the 393 complainants were farmers and lived at Agogo and its surrounding communities.
He said Ateyam was the Managing Director of High Micro Financial Services, a 'susu' collection company whereas Yamoah and Asiamah were the branch managers of the Agogo and Juansah respectively.
According to the prosecution, in October last year, the accused persons agreed with a common purpose to defraud the complainants, thereby establishing the company.
They then went round the township of Agogo and its surrounding communities to announce the establishment of the company with the promise of providing loans to their customers after three months of savings.
Three months after the unsuspecting customers saved with the company, they were denied the loans with excuses that they did not qualify for the facility.
Efforts by the complainants to withdraw their savings also proved futile as the company could not refund their monies, compelling them to besiege the Agogo office only to discover that the office had been locked and abandoned.
They, however, managed to arrest Asiamah who during police interrogation mentioned Ateyam and Yamoah as his superiors, leading to their arrest by the police.
Further investigations also revealed that the accused persons had no license to operate, hence they were charged with the offences.