Trader arrested for swindling colleague

A 52-year-old trader has found himself in trouble with the law for allegedly cheating his colleague trader in a business transaction.

Kwaku Kwarteng was said to have struck a sales deal with the victim under which he was allowed to carry away 500 cartons of Lucozade energy drink, costing GH¢17,750.00, to be paid for at a later date.

He sold the drinks, squandered the proceeds and went into hiding.

For this, he was arrested and put before a Kumasi Circuit Court presided over by Mr. William Boampong, to explain why he should not be punished for swindling the victim, Mohammed Iddrisu.

He pleaded guilty to the offence and was granted a GH¢15,000.00 bail with a surety, having already paid back GH¢10,000.00.

Kwarteng denied going into hiding and insisted he went on a business trip.

Police inspector Gulliver Kwabena Tenkorang told the court that the transaction took place in February after which the accused went underground until he was arrested by the police on May 2.

He confessed spending the money from the sales on other things in his caution statement and made a refund of GH¢10,000.00.

The prosecution said he was consequently granted a police enquiry bail but jumped and he was re-arrested on December 6.

He was ordered to return to the court on December 19.

Source: GNA