The Tarkwa Circuit Court has handed down a fine of GH¢3,600 to Joseph Owusu, a 51-year-old contractor, or in default, a five-year prison sentence for issuing five dud cheques.
The presiding judge, Mrs. Hathia Ama Manu, found Owusu guilty of five counts of issuing false cheques and ordered him to refund the complainant’s money.
According to Police Superintendent Juliana Essel-Dadzie, the complainant, Stephen Dankwah-Smith, is a licensed money lender who lives in Tarkwa.
In July 2020, Owusu sought financial assistance from Dankwah-Smith, who agreed to provide him with a loan at a 20% interest rate.
The loan amounted to a total of GH￠1,268,480.00, and Owusu pledged to pay it back with interest by September 2021.
Despite the agreement, Owusu failed to settle the debt, prompting Dankwah-Smith to make several attempts to recover the money without success.
On March 3, 2023, Owusu issued five UMB Tarkwa branch cheques with face values totaling GH￠3,600, GH￠150,000, GH￠12,000, GH￠1,300,000, and GH￠120,000.
However, these cheques were subsequently dishonored by the bank due to insufficient funds.
After reporting the case to the police on July 20, 2023, Owusu was arrested and admitted to the offense in his statement.
As a result, the Tarkwa Circuit Court found him guilty and ordered him to pay GH¢3,600 or serve a five-year prison term as a consequence of issuing false cheques.
