Benjamin Appiah Boateng, a forex trader accused of defrauding two individuals of a combined USD300,000 and GH₵10,445,000, has been granted bail by the Accra Circuit Court Nine. The court, presided over by Mr. Samuel Bright Acquah, set bail at GH₵5 million with four sureties. One surety must be justified, and Boateng is required to deposit his travel documents with the court's registry. His next court appearance is scheduled for February 5, 2025.
Boateng's alleged crime involves fraudulent online investments in UDST on the Binance cryptocurrency platform. According to Police Chief Inspector Jonas Lawyer, Boateng solicited investments from Mr. Berry Kwadwo Agyapong, a business consultant, and Mr. David Burke, a businessman, under false pretenses.
Agyapong initially invested USD300,000 before introducing Boateng to Burke. Burke, trusting Agyapong's recommendation, invested a total of GH₵9,890,000 in stages, initially investing GH₵555,000. Boateng reportedly assured both men of significant returns, even paying out dividends to maintain the illusion of success.
However, when Burke attempted to withdraw his investment and dividends on December 14, 2024, Boateng became unresponsive. Agyapong's attempts to contact Boateng were also unsuccessful. In response, Boateng allegedly sent a WhatsApp voice note and a purported suicide note, claiming he had lost all the invested funds through online gambling on the "Stake" platform.
This prompted the complainants to report the matter to the police, leading to Boateng's arrest. During questioning, he reportedly admitted to the offenses. The case highlights the risks associated with online investments and the importance of due diligence before entrusting large sums of money to individuals or platforms. The court's decision to grant bail, while significant, underscores the ongoing legal process and the presumption of innocence until proven guilty.
