Court Grants Bail To DKM CEO And Others | Ordered To Report To Police Every Week


DKM and Co

Four operators of some ponzy Microfinance Companies in the Brong-Ahafo Region who were last week arrested by the Bureau of National Investigation (BNI) were on thursday granted bail by an Accra High Court.

They included Mr Martin K. Delle, the CEO of DKM Diamond Microfinance, Noel Nortey, the Nkoranza branch Manager of God is Love Fun Club, Mr Charles Asum, Managing Director of Jastar Group of Companies, Monica Afriyie, affectionately known as Maame Korkor, the Managing Director of God is Love Fun Club. The four were charged with fraudulent breach of trust.

Justice Aboagye Tandor, the presiding Judge granted the CEO of DKM Microfinance a bail to the tune eighty Million Ghana Cedis (GHc80,000000) with five sureties and a six million security deposi,t and should report to the police every week, whilst the three others were also granted bail of fifteen Million Ghana Cedis (GHc15,000000)  with five sureties and Five Million Ghana Cedis security deposit each.

The four directors were picked up last week by the Bureau of National Investigation (BNI) in connection with the alleged embezzlement of deposits they collected from their Clients running  into several millions of Cedis with a promise of paying them huge interest of not less than 50%. They have since been in the custody of the BNI until yesterday when they were granted bail by the Accra High Court.

The development has crippled the local economy  and also created serious security challenge in the Region with the aggrieved customers of these ponzy schemes resorting to invocation of curses, demonstrations and kidnapping in order to retrieve their deposits.

There has also been reported cases of deaths of some of the victims who could not withstand the psychological and financial trauma caused by the inability of the microfinance compaines to pay them their monies, with the figure pegged at fourty five (45).