An Accra Circuit Court has granted bail to Albert Akrofi Ocansey and Kofi Osam Armah, all Bankers in the sum of GH¢100,000.00 each with two sureties.

The two, who pleaded not guilty, were charged for conspiracy to carry out banking business without license, carrying out banking business without license, conspiracy to commit crime to wit defrauding by false pretence and defrauding by false pretence.

They are to reappear on October 9, 2017.

The accused persons, who committed the alleged crime with other accomplices now at large, initially refunded GH¢20,000.00 and when they appeared in court on Wednesday gave a cheque of GH¢2,000.00 which is yet to be cleared.

The court has, therefore issued a bench warrant for the arrest of Gideon Asamoah Asante and Prince Takyi Turkson, all Bankers.

Detective Chief Inspector Isaac Agbemehia, told the court that the complainant in the case was one Patricia Dodoo-Solomon, a Banker.

He said somewhere in July 2012, the accused persons established a company called Mak Asset Management Limited and licensed by the Securities and Exchange Commission, strictly to operate as an investment advisory firm.

He said the accused persons were not to operate any banking related activities, however, accused persons veered from their core objectives and engaged in Micro-Financing and other banking related activities.

The Prosecution said they presented the company to the public as Micro-Finance Company and have been taking deposits from unsuspecting people with the promise of a high interest rate to lure them.

Detective Chief Agbemehia said this came to the attention of the authorities of the Commission and as a result the licence was revoked.

Notwithstanding, the accused persons continue to operate the company and subsequently collected cash in the sum of GH¢40,000.00 as deposits from the complainant on October 16, 2015 and promised an interest rate of 33 per cent per annum to mature on October 15, 2016.

He said on the maturity date the complainant submitted a redemption of her fund but the accused persons failed to give her the money, a report was made to the police and the accused persons were arrested