Fraud Archives - Wontumi Online

13 Dec

British Trader Found Guilty Of £1Bn Fraud

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A British hedge fund trader has been sentenced to 12 years in prison in Denmark, after being found guilty of orchestrating a tax fraud that cost the Danish government more than £1bn. It is the heaviest penalty ever given out in Denmark for a fraud case. In addition to the prison term, financier Sanjay Shah, who was the founder of London-based hedge fund Solo Capital Partners, received a permanent entry ban to Denmark and will have assets worth $1bn (DKK 7.2bn) seized, as well as a string of properties. He immediately appealed the decision on the spot. But will remain…

05 Dec

Popular Pastor Faces Court Over Alleged £1.87M Fraud

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Salvation Proclaimer Ministries Limited, a London-based church group better known as SPAC Nation, has been wound up by a UK court. The UK government, in a release confirming the closure, said the church group was shut “in the public interest” after failing to properly account for more than £1.87 million in expenditure and operating with a lack of transparency. The verdict was delivered at a high court sitting on June 9 before Micheal Burton, the presiding judge. The release further stated that The Official Receiver has been appointed as the liquidator of the company. The court heard that SPAC Nation was incorporated…

27 Nov

Ghanaian National Faces Over 5 Years In US Prison For $2 Million Wire Fraud Scheme

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The United States Department of Justice (BOJ) has sentenced Ghanaian man Wigbert Bandie to over five years for his involvement in an international wire fraud conspiracy that defrauded elderly victims of over $2 million. The DOJ, in a statement issued on its website, revealed that Bandie and his accomplices used false identities on social media, dating websites, and other platforms to form online relationships with their victims, many of whom were elderly. The 34-year-old, after being found guilty, was sentenced to 63 months by United States District Judge Thomas A. Varlan in Knoxville, Tennessee on Tuesday, November 26, 2024. Additionally,…

09 Oct

Fraudulent Claims Pose A Threat To The Insurance Industry – Yeboah-Asuamah

Wontumi1BusinessFraud, insurance

Chief Executive Officer of MiLife Insurance Company, Kwaku Yeboah-Asuamah, has expressed grave concern over attempts by some people to fraudulently obtain claims from insurance companies. He said the threat of insurance fraud was becoming a major concern, which if not addressed, could put the entire insurance industry at risk. Yeboah-Asuamah stated that, “Fraudulent claims divert resources meant for genuine cases, putting the entire system at risk." “Let me be clear, fraud is illegal, and those involved could face severe consequences, including jail term." “For example, we have encountered cases where professionals falsely reported the deaths of their parents, only for…

01 Jul

I Have Not Defrauded Anybody – Mr. Logic

Wontumi1ShowbizFraud, Mr. Logic

Contrary to reports that Mr. Logic has defrauded an American, the artiste manager insists he has defrauded no one, though he acknowledges that the case is currently in court. In an interview with the media, Logic refrained from further comments but emphasized that the American was once his business partner in the music industry and has framed him. “I have not defrauded anybody,” Logic stated firmly. According to GNA, Logic appeared before the Dansoman Circuit Court for allegedly defrauding Khori Edward Lewis, an American citizen residing in Pantang, Accra, of $21,000 and GH₵48,000. The report indicated that, he is accused…

21 Jun

Medical Emergency Assistant Jailed For Fraud

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The Amasaman Circuit Court has sentenced a 44-year-old medical emergency assistant to three years imprisonment in hard labour for fraud. Francis Kweku Eshun admitted taking GH¢15,000 from William Sackey under the pretext of securing him a lawyer and surveyor to facilitate a court case at Amasaman. He was, however, discharged on a fraudulent breach of trust charge as the court presided over by Ms Enid Marful-Sau ruled that the prosecution’s facts did not support the charge. The court directed the prosecution to make available disclosures to the convict on a third charge he pleaded not guilty to. He was also…

24 May

Sean Kingston And Mother Both Arrested On Fraud Charges In Major Bust

Wontumi1ShowbizFraud, Sean Kingston

Sean Kingston was arrested in California on Thursday, hours after his mother was taken into custody in Florida. An arrest warrant for the “Beautiful Girls” singer, 34, had been issued earlier in the day following a raid on a South Florida mansion Kingston was renting. He was out of the state for a performance in California at the time. “This evening, police in Fort Irwin, Calif., arrested Kisean Anderson, aka Sean Kingston without incident on a Broward Sheriff’s Office arrest warrant for numerous fraud and theft charges,” the Broward Sheriff’s Office confirms to PEOPLE in a statement. “According to investigators, he will be…

05 Apr

BoG Cautions Banks To Comply With Monthly Reporting Of Fraud Cases

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The Bank of Ghana (BoG) has cautioned banks to comply with its monthly report on fraud cases. This is to aid the regulator in consolidating measures in tracking fraudulent activities in the financial sector. According to the Head of Financial Stability at the BoG, Dr. Kwasi Osei Yeboah, the bank will continue to collaborate with all financial sector players to sanitize the sector. Speaking to Joy Business at a workshop on Committee for Co-operations between the Law Enforcement Agencies and the Banking Community, Dr. Yeboah called for a more collaborative effort from stakeholders to address the menace. “This may be…

02 Apr

194 Cases Of Online Fraud Recorded In First Quarter Of 2024 – Cyber Security Authority

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The Cyber Security Authority (CSA) has reported 194 cases of online fraud between January and March this year. These incidents have collectively led to a financial loss amounting to approximately GH¢2,404,161. Attributing some of these cybercrimes to the festive seasons such as Easter and Ramadan, the CSA cautioned the public to be diligent in their online activities. “Be cautious of unsolicited messages offering exciting or ‘too good to be true deals” the statement added. Find the statement below: Source: Adomonline

22 Feb

Fraud Alert: ECG Cautions Clients Against MoMo Fraudsters

Wontumi1BusinessECG, Fraud, MoMo

The Electricity Company of Ghana (ECG) has advised clients to only transact business with the power distribution company through its PowerApp and offices. Speaking to JoyNews, the Volta Regional General Manager of ECG, Ms. Christina Jatoe-Kaleo explained that, her outfit does not operate a mobile money account. She therefore entreated customers not to give audience to people who would ask them to send money to ECG mobile money account to access ECG services. Source: Adomonline