A Savings and Loan entity popularly called ‘Susu’ company based in the Western Region has allegedly defrauded unsuspecting traders in the Shama district of hundreds of Ghana cedis.
The over 100 traders were from Abuesi, Aboadze, Dwomo, Nyankrom and Inchaban-, all in the Shama District of the Region.
According to information gathered the various sums of money collected from the affected traders as savings, cannot be accounted for by the agents of the savings and loans company.
A police investigation has established that the actual name of the alleged company is ‘Business for Home Susu Company’.
However, the name written at the back of the passbooks of the affected customers, is AKGMB Multilevel Business.
It was later revealed that the susu company had allegedly been operating without the necessary permits and licenses required for the business.
One of the victims, Madam Comfort Cudjoe, disclosed that some customers suspected the proprietor, identified as Michael Kojo Assan, of having squandered their investments.
This was after several efforts to retrieve their savings had failed
“Michael told us we should give him sometime time to raise the money for payment, claiming that the money had been issued as credit to some other customers who are yet to pay back”, Madam Comfort Cudjoe revealed.
She said Michael’s explanation did not go down well with the traders and suspected he might have absconded from the vicinity or squandered their savings.
She added that because they were afraid that they might lose their investments, they reported the case to the police at the Kojokrom Police Station and Michael was later arrested.
The Shama District Police Commander, Supt. Paul Ankan, who confirmed the story disclosed that responses offered by Michael to the Police during interrogation did not add up.
“He had informed the customers that he was only managing the branch in Shama District, not knowing he is actually the proprietor of that business”.
“He later explained that what he told the affected traders was his strategy for avoiding pressure from the customers,” the Commander pointed.
According to the Police, the suspect, Michael Assan will soon be arraigned before court.
From Emmanuel Opoku, Takoradi