Consolidated Bank Staff Steals GH¢1m And US$139k From Bank – Court Told

A 48-year-old Collateral Administrator at Consolidated Bank Ghana, Bonny Freddie Owusu Ansah, has been remanded into police custody by the Dansoman Circuit Court for allegedly stealing more than GH¢1 million and US$139,000 belonging to customers of the bank.

Owusu Ansah was arraigned before the court presided over by Her Honour Nancy Teiko Searyoh on Thursday, where he pleaded not guilty to one count of stealing contrary to Section 124(1) of the Criminal Offences Act, 1960 (Act 29).

Despite a bail application by his counsel, Mr. Martin Kpebu, the court remanded the accused into police custody to assist with ongoing investigations. Mr. Martin Kpebu had prayed the court to admit his client to bail, arguing that Owusu Ansah had pleaded not guilty and was presumed innocent.

He told the court that the accused has a fixed place of abode, is married with six children, and has lived in the same residence for about 20 years. Counsel further assured the court that the accused had persons of substance willing to stand as sureties and was prepared to provide title deeds to landed property as security.

He also argued that investigations were far advanced and that the accused would not interfere with the process if granted bail. The court, however, declined the bail application and remanded the accused into police custody.

According to the charge sheet, the accused person, between 2024 and 2026 at Accra in the Greater Accra Region and within the jurisdiction of the court, allegedly dishonestly misappropriated cash amounting to GH¢1,075,317.84 and US$139,034.00, the property of Consolidated Bank Ghana.

 

Prosecution’s brief facts

Presenting the facts, Chief Inspector Kwadwo Aboagye, the prosecutor, told the court that the complainant, Mohammed Habib Sanda, Head of Security and Investigation at Consolidated Bank Ghana, reported the matter after an internal audit uncovered financial irregularities.

The prosecution said the accused, who was employed by the bank in 2018 as a collateral administrator, was entrusted with funds from customers intended for the perfection of mortgage documentation for loans granted by the bank.

However, between 2024 and 2026, he allegedly misappropriated the funds for his personal use without the knowledge or approval of the bank.

The court heard that the alleged offence was detected on March 17, 2026, during an audit, after which the accused was confronted and subsequently arrested and handed over to the Regional Police Headquarters for investigation.

In his caution statement to the police, the accused allegedly admitted using the money due to financial difficulties. The case was adjourned to a later date for further proceedings.

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