An Accra Circuit Court has granted a sand winner a GH¢567,000.00 bail with three sureties, for allegedly issuing false cheques.

Emmanuel Tetteh Otukonor pleaded not guilty to issuing false cheques contrary to Section 313 A (1) (B) of Criminal Offences.

He will re-appear on June 1.

Police Chief Inspector Francis Tassan told the Court presided over by Mr Emmanuel Essandoh that the Prosecution witness, Jacob Gaikpa is the Managing Director of the Yourfunds Micro-Credit, formerly Yourfunds Money Lending Services.

He resides at East Legon whilst Otukonor resides at Domeabra near Amasaman, located in Accra.

Chief Inspector Tassan said, in August 2016, Otukonor approached Mr Gaikpa for a loan of GH¢500,000.00 which was granted to him. He in turn issued a Utrak Savings and Loans post-dated cheques with a face value of GH¢133,334.00 each, all to the tune of GH¢800,004.00 to be withdrawn between October 2016 and February, 2017.

He said when the dates were due, Otukonor pleaded with the Prosecution witness not to present the cheques for payments as he did not have enough funds by then.

On September 27, 2017, the accused instructed the prosecution witness to present the cheques.

The Prosecution said the cheques were however dishonoured.

Accused was subsequently informed and he paid GH¢234,000.00, leaving a balance of GH¢566,004.

Chief Inspector Tassan revealed that all efforts to retrieve the rest of the money proved futile.

A formal complaint was lodged with the police, which led to his arrest and after investigations, he was arraigned.