Kumasi, May 3, GNA--The Serious Fraud Office (SFO), acting in concert with other security agencies and management of the Ghana Telecom Company, has smashed a syndicate that has been duping both prospective customers and the company.

The modus operandi of the syndicate is either to create an artificial shortage or take advantage of genuine shortage of telephone lines to extort millions of cedis from those who apply for telephones.

A press statement signed by Mr Samuel Sarpong, zonal head of the SFO in Kumasi, said on Wednesday that all members of the syndicate are employees of the Ghana Telecom.

The statement said three of the culprits have been arrested but did not give their names. It said about a month ago, members of the gang collected 2.7 million cedis from a lady at Asafo to provide her with two telephone lines and only last week, they took 4.5 million cedis to provide an institution with three lines..

The statement said some amounts of money have been retrieved from those arrested and that investigations are continuing. It warned employees in the public sector who create artificial shortages for selfish gains "to mend their ways because the SFO is on their heels".