The Kumasi High Court, Wednesday ordered US Tilapia, a tilapia investment concern and its owner, Mr Godfred Chief Medicine, to pay GH¢740,000 to 88 customers.
The amount, which represents investments made by the customers in the company, is to be paid at the current interest rate beginning from January, 2014.
The customers had sued the company and Mr Medicine for failing to pay back their capital and the promised interest.
The court, presided over by Mr Justice Jacob Boon, entered judgement after Mr Hans Kwadwo Koduah, counsel for the plaintiffs had filed an ex-parte motion for final judgement in default of appearance.
Mr Medicine was, however, not in court when judgement was passed.
He set up offices across the country, asking people to invest money in a tilapia business and pledged to offer 100 per cent interest plus their capital within three months.
After several months of his (Medicine’s) disappearance, some of the victims filed a civil suit against him and the company at the court.
Consequently, an absconding warrant was issued by the court and Mr Medicine was arrested in Accra and brought before the court.
When the case was first called on October 31, 2014, Mr Medicine was granted bail of GH¢50,000 with two sureties to be justified.
About 160 more victims have also filed a similar suit against Mr Medicine and the amount involved is GH¢3 million. They are from Cape Coast, Accra and Takoradi.
Another group of victims have sued the same person for GH¢3.7 million at the Kumasi High Court.
Both cases are being handled by Mr Hans Kwadwo Koduah.
Source: Daily Graphic
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