Accra: Two businessmen allegedly involved in a GHC49,595,816.00 gold fraud were on Wednesday refused bail by the Accra Circuit Court Nine. Kenneth Torbizo, 49, and Ernest Kofi Nyatorgbe, 37, the accused persons, have denied conspiring to defraud Mr. Kofi Asaah Attakurah under the pretext of supplying him with 32 kilogrammes of gold. They have been remanded into Police custody to assist in investigation.
According to Ghana News Agency, Police Chief Inspector Jonas Lawer provided the details of the case, stating that Mr. Attakurah, the complainant, serves as the Chief Financial Officer of Max Palasco Company, a firm engaged in the purchase of gold in Ghana. Torbizo and Nyatorgbe, who are also engaged in the gold trade under the name Torbiken Enterprise, approached the complainant's company's Chief Executive Officer in January 2026, claiming they had a quantity of gold to sell. The CEO showed interest in the offer.
Torbizo and Nyatorgbe subsequently demanded and collected GHC49,595,816.00 from the complainant, promising to supply 32 kilogrammes of gold equivalent to the amount received. However, the complainant's numerous attempts to either receive the gold or get a refund of the payment were unsuccessful. As a result, the complainant reported the incident to the police, leading to the arrest of the accused individuals.
The accused were charged with the offences and brought before the court. The prosecution informed the court that the case would be referred to the Attorney General for advice, considering the significant amount involved.