A Kumasi Circuit Court presided over by Mr Justice Emmanuel Amo-Yartety has ordered that the Manager of Mega Trust Uni-Investment Limited, should be kept in prison custody for operating a financial scam.
Steven Kwasi Adjei is accused of duping 257 people to the tune of GH�57,435 using a fake "susu" collecting company.
He has denied the offence and would re-appear on October 21.
A plea by his counsel for bail was refused and the Court said it would re-consider the decision on the adjourned date.
Police Chief Inspector Archibald Kwesi Fandoh had earlier told the Court the company, headed by the accused, started business at Kronom-Afrancho near Kumasi in April 2008.
He convinced his victims to save with the company and assured them of prompt payment on maturity and promised them loans.
Chief Inspector Fandoh said when the time was due for the customers to take back their savings they realized that the office from which the company had been operating was locked up.
They became suspicious and made a formal complaint to the police.
Adjei in a caution statement admitted the offence.
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