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Former President of the Ghana Real Estate Developers Association (GREDA), Dr. Alexander Tweneboah is still in police custody, a day after he was granted bail because he is unable to meet the bail conditions.

Dr Tweneboah was granted bail on Tuesday of GH¢50,000 and two sureties, one to be justified by a person with a land title certificate.

But ASP Seth Tewornu of the police Criminal Investigations Department (CID) has confirmed to Joy News the embattled former GREDA boss has failed to meet the bail conditions.

Dr. Tweneboah is standing trial for allegedly operating an illegal SIMBox business.

He was arrested a few weeks ago with 17 others accused of illegally terminating international calls to the country as local calls and depriving telecommunication companies and the state of huge revenues.

The Criminal Investigations Department of the Ghana Police Service which led the investigations that led to the arrest told journalists the telecom companies and the state lost about $33 million through the operations of Dr. Tweneboa and other accused persons.

Dr Tweneboah has pleaded not guilty to the charge of SIM Box Fraud.