illegal microfinance

Businessman Jailed Eight Years For Operating Illegal Microfinance

Businessman Jailed Eight Years For Operating Illegal Microfinance

An Accra Circuit Court has sentenced a 34-year-old man to eight years in prison with hard labour for operating a microfinance without a license. Kofi Asante was also charged with forging the Bank of Ghana’s (BoG) license for deposit-taking businesses. He pleaded guilty to operating a microfinance business without a license and forging official documents to do so and was sentenced to four and eight years in prison, respectively. Both sentences are to run concurrently. Assistant Superintendent of Police (ASP) Emmanuel Haligah told the Court presided over by Mr Jojo Hagan Amoah that in June 2023, the Police received information that…
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