48-year-old banker in hot waters for duping woman, others GH¢475,500 in sour ‘kako’ business

A 48-year-old banker and economist has landed himself on the wrong side of the law after he allegedly defrauded a woman under the pretext that he would invest her money into salted fish (kako) business.

According to a graphic.com.gh report, Alex Kodua, took a total amount GH¢475,500 from the woman but failed to use it for the supposed ‘kako’ business.

The man is said to have since gone into hiding but a warrant has been issued for his arrest.

This was after he refused to appear before the court presided over by Samuel Bright Acquah.

Reading the facts of the case in court, Assistant Superintendent of Police (ASP) Maxwell Oppong said that Theresa Duku, the complainant, lost her job in the month of October 2021.

The prosecutor told the court that being her friend, when he (Alex) approached her that he was into the purchase and supply of ‘kako,’ she got convinced to invest in it.

“The accused person convinced the complainant to invest her money into the business, and get good returns. The accused person thereafter demanded and collected cash, in the sum of GH¢30,000.00 from the complainant under the pretext of investing same into the said business,” he said.

The prosecutor continued that after a while, Alex returned to Theresa with some returns, which he said was profit he generated from the money he received from her, eventually winning her trust.

The prosecutor continued that with her trust won, Alex convinced her to get other friends of hers also into the business.

“The complainant fell for the prank and raised funds from her family and friends to the tune of GH¢475,500.00. She handed over the funds to the accused person who promised to use the money to order the said salted fish for the complainant which will enable her do the business herself,” he said.

It was however after Alex received these other monies that he is said to have gone into hiding.

Theresa Duku proceeded to report the matter to the police on July 7, 2022, following which Alex was traced and arrested at his hideout.

“He admitted the offence and pleaded with the police to give him up to ending of August 2022 to return the money but that failed. Investigation however revealed that the accused person had never been involved in the purchase or supply of any salted fish as he had portrayed,” the prosecutor revealed

The court has since set February 28, 2023, for his next appearance in court.