Accra: Two businessmen accused of involvement in a GHS49,595,816.00 gold fraud have been refused bail by the Accra Circuit Court Nine. Kenneth Torbizo, 49, and Ernest Kofi Nyatorgbe, 37, pleaded not guilty to conspiring to defraud Mr. Kofi Asaah Attakurah under the pretext of supplying 32 kilograms of gold.
According to Ghana News Agency, Police Chief Inspector Jonas Lawer informed the Court that Mr. Attakurah, the complainant, serves as the Chief Financial Officer of Max Palasco Company, a registered gold purchasing firm in Ghana. Chief Inspector Lawer stated that Torbizo and Nyatorgbe, operating under the name Torbiken Enterprise, approached the complainant's Chief Executive Officer in January 2026 with an offer to sell gold.
Chief Inspector Lawer further explained that the accused collected GHS49,595,816.00 from Mr. Attakurah, promising to supply 32 kilograms of gold, but failed to deliver or refund the money. Despite assurances from the accused that the funds were available and would be transferred, they refused or neglected to do so.
A complaint was lodged with the Police, leading to the arrest and subsequent arraignment of the accused. Torbizo and Nyatorgbe have been remanded into Police custody to assist with investigations. The prosecution informed the Court that the case would be referred to the Attorney-General for advice, given the significant amount involved.