FAKE FINANCIAL INST ARRESTED

Story: Moses Dotsey Aklorbortu, Axim
The operator of a fake financial institution operation in the Nzema East Municipality has been arrested after defrauding more than 300 people amounting GHc45,000.
Interestingly, employees who thought there was something wrong with their boss’s mode of operations reported him to the police after he was unable to give a simple balance of a customer within a period.
The suspect, Vincent Terry, formed a none-existing company called Solid Rock Financial Services (SRFS) and promised his victims loan of three times the amount they contributed after three months of registering and saving with the company.
According to the police source, the suspect who is a native of Elimina resident in Takoradi came to the community with his fake business and employed four girls.
Terry managed to convince the people various communities within the municipality and rented an office accommodation that positioned him as a credible institution.
The police said his claim to give loan to people three times what they contributed spread like a wildfire and he had attract a lot of unsuspecting contributors.
The police said he appointed one of the girls as an accountant and the other three as mobilization officers.
However, his cover was blown when one of the victims decided to know how much he had contributed for the last three months to enable him calculate how much he would get in terms of loan.
The police said on one of the trip to mobilize the saving one of the girls came back that a customer was demanding to know how much he had contributed over the period.
But Terry told them that the managing director of the solid financial services by name Solomon Yankson, had come to collect the whole contribution to the headquarters therefore he could readily give the balance of the customer.
This according to the police did not go down well with the four girls upon employment, Terry told that he was the owner of the business and also wondered why he could not give them the balance in the database of the customers.
They therefore reported the conduct of their boss to the police, upon investigation they realized that the company did not exist.
He was subsequently arrested and placed in police custody pending further investigation. The police had retrieved a laptop and a desk top computer from his office to help them in their investigations.