Cape Coast, Sept 7, GNA - The Chief Executive Officer of Oboanipa Ventures Limited, a non financial banking company at Twifo Praso, has been granted bail in the sum of GH¢30,000 with two sureties by a circuit court in Cape Coast for defrauding by false pretences. The accused, Isaacson Kofi Kyere who is a resident of Accra, pleaded not guilty and would be re-arraigned on September 20. Chief Inspector Francis Ockom told the court presided over by Mr Samuel Asare Nyarko that one Isaac Nana Antwi was the branch manager of the said company at Twifo Praso.

He said the Twifo Praso branch was opened on August 2, 2009 by the accused who employed Mr. Antwi as the branch manager together with 13 other workers.

Chief Ockom said the accused allegedly made an advertisement on a local radio station that deposits of any amount made at the company's branch would tripled as a loan on maturity. He said interested clients contributed various sums of money to a total of GH¢ 17,330.00 to the complainant who in turn paid the money to the accused.

Chief Ockom said after the maturity date, a witness who was due for the loan was tossed back and forth as all efforts by Mr. Antwi to get the accused to have the monies paid to the customer failed. He said the accused later went into hiding until August 23 this year when he resurfaced and was arrested in Accra.