Accra, March 15, GNA - A 44-year-old Accountant who allegedly used the name of his non-governmental organization (NGO) to defraud 700 women, on Tuesday appeared before an Accra Circuit Court charged with fraud. Kyere Botchwey is alleged to have collected 130,000 cedis from the women to process loans ranging from 500,000 cedis to five million cedis amounting to 58.9 million cedis.

Botchwey pleaded not guilty and he was remanded into Police custody to enable further investigations into the case. He is to reappear on March 22.

Police Chief Inspector Alice Takyiwa said the complainants were industrious women within Madina, near Accra, who needed funds to make a living.

In October 2004, Botchwey posed as the Director of a so-called NGO known as Coalition and Advocacy for Women Empowerment (CAWE), which he claimed was operating nationwide with its headquarters at Ho in the Volta Region.

He also claimed that CAWE was out to assist people, especially deprived women in the society.

As result, Botchwey was able to collect 130,000 cedis each from 700 women to process loans for them.

The Prosecutor said Botchwey after collecting the money from the women he failed to honour his promise.

Botchwey told the Police that he had deposited all the monies he collected at the Ho Branch of the Ghana Commercial Bank. However, investigations conducted at the Bank indicated CAWE had only 14.6 million cedis in its account.