Pastor in trouble for taking deposits illegally

Gavel

The Proprietor of DEK-NOCK, who was arrested for allegedly taking deposits without licence from the Bank of Ghana (BoG), has been granted GH¢500,000 bail by the Accra Circuit Court.

Enock Mawuli Sabah Kugbedzi, the Head Pastor of Kingdom Chapel International, Nungua-Buade, pleaded not guilty to “operating a deposit taking institution without licence.”

The police retrieved cash of GH¢265,049 and GH¢793,122.60 from his Ashaiman and Nungua offices, respectively.

Kugbedzi, who had legal representation, pleaded not guilty before the court presided over by Mr Isaac Addo.

The court, after listening to arguments from the prosecution and Kugbedzi’s team of lawyers, granted GH¢500,000 bail with two sureties.

It also directed Kugbedzi to report to the case investigator every Friday until further notice.

Kugbedzi’s lawyers, led by Mr Paul Asibi Abarigah, requested the court to grant their client bail because he would appear to stand trial.

Prosecuting, Assistant Superintendent of Police (ASP) Seth Frimpong, declined bail, stating that the case was still being investigated, and requested that Kugbedzi be remanded.

The court, however, exercised its discretion in favour of Kugbedzi.

ASP Frimpong said that the complainant, Wing Commander Kwame Asare Boateng (retired), is the Head of Security at BoG.

The prosecution said the Criminal Investigations Department (CID) headquarters received a petition from BoG to investigate the activities of DEK-NOCK Companyat Nungua and Ashaiman.

ASP Frimpongsaid the complainant reported that the company was operating a deposit taking institution without a licence from the central bank.

He said personnel from the CID and National Operations Directorate, as well as BoG officials, went to Nungua and Ashaiman for investigations.

The court heard that at the Ashaiman branch, the team retrieved several documents including transaction books and sheets, customers’ passbooks, an HP Laptop, and cash in sum of GH¢265,049 from the office.

According to ASP Frimpong, at the Nungua branch, the team arrested Kugbedzi, the company’s sole proprietor, and seized many clients’ passbooks, loan forms, transactions record sheets and books, a server, a hard drive, six computer system units, and GH¢793,122.60 in cash.

—GNA