Ghana Loan Scam: Six Arrested Over GH¢500,000 Loan Scam Targeting 500

Six people have been arrested in connection with a suspected loan scam that targeted over 500 traders in the Gomoa East District, with the alleged victims accusing Royal Drive Group of collecting deposits before its manager absconded with the funds.

The incident occurred at Kakraba Down and nearby communities, where the traders were convinced to enroll in various financial packages, including loan facilities and "work-and-pay" schemes for Voxy vehicles and tricycles. According to the affected traders, prospective applicants were first required to purchase application forms and registration cards at GH¢70 before making deposits based on the amount of loan they intended to secure.

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Traders Speak Out Against Royal Drive Group

The traders explained that they deposited amounts ranging from GH¢700 to GH¢45,000 after being assured they would receive their loans on Tuesday, August 4. However, when they reported to the company's office on the scheduled date, they allegedly found only application forms and office furniture, while the manager was nowhere to be found. "They said prospective applicants were first required to purchase application forms and registration cards at GH¢70 before making deposits based on the amount of loan they intended to secure," the affected traders said in a statement.

Police Investigation Underway

The incident was reported to the Millennium City Police, who subsequently arrested six employees of the company to assist with investigations. Police say the company's manager, believed to be the principal suspect, is currently on the run, and efforts are underway to locate and arrest him. The affected traders have appealed to the police to intensify investigations and help recover their money.

Recovery Efforts Ongoing

Investigations into the alleged fraud are ongoing, with the police working to recover the stolen funds and bring the perpetrators to justice. The affected traders are eagerly awaiting the outcome of the investigation, hoping to recover their money and put an end to the alleged scam. As the police continue their investigation, the traders remain optimistic that justice will be served.

Source: Adom Online