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General News
Three defraud bank of ¢700 million through ATMs 1/16/2007





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The police are looking for three students of the University of Ghana, Legon, who fraudulently exploited Automated Teller Machines of an undisclosed multi-national bank and purchased 700 million cedis worth of mobile phone units.

The three, Prince Obiri-Yeboah, Theophilus Kwasi Mortosi and Tsidi Kloba exploited the ATM services of the bank to carry out their daring act between March and May last year.

They have since gone into hiding as they are said to be non- resident students of the university, while the residential addresses they provided the bank do not exist.

The Deputy Director General of the Criminal Investigations Department of the Ghana Police Service, Patrick Ampewuah told the Daily Graphic that under the technology, clients could purchase rechargeable units for their mobile phones and the bank would later debit the customers’ accounts and credit the service provider.

In this particular case however, the students did not have money in their accounts but moved from one ATM of the bank to the other in the Accra metropolis to conduct their illegal transactions.

He said the bank detected the fraud when it was reconciling its accounts for the quarter and the suspects stopped their transactions immediately the fraud was detected.

He said efforts to trace them had proved futile as the university authorities claimed they were non-resident students. He therefore appealed to members of the public who had information on the suspects to contact the Commercial Crime Unit of the CID Headquarters or the nearest police station.

Source: Daily Graphic



 
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