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A relationship manager at a private bank, Christopher Arthur, has appeared before an Accra Circuit Court over allegations of siphoning GH¢12 million from a client’s accounts, with investigators further claiming that part of the funds was used for online sports betting.
Arthur, who managed the accounts of a businessman at the bank’s Haatso branch, has been charged with stealing. He pleaded not guilty when he appeared before the court presided over by His Honour Eyram Fumey.
Despite the seriousness of the allegations, the court granted him bail in the sum of GH¢12 million with four sureties, three of whom must be justified. The prosecution did not oppose the bail application, which was moved by defence counsel Samuel Laryea. The case has been adjourned to May 26, 2026, for a Case Management Conference, with prosecutors directed to file all disclosures before the next hearing.
According to the prosecution, led by Chief Inspector Jonas Larwer, the complainant—a businessman—opened three company accounts in 2023 under the name C.T and C Limited. These accounts were placed under Arthur’s management.
The alleged fraud came to light in January 2026 when the complainant noticed irregularities and raised concerns. Further checks reportedly revealed that GH¢12 million had been misappropriated.
Prosecutors told the court that when confronted on March 8, 2026, Arthur allegedly attempted to conceal the discrepancies by generating a forged internal bank statement. However, the document was later found to be falsified.
Facing exposure, the accused is said to have admitted to the wrongdoing and made partial repayments, including GH¢94,000 in cash and an additional GH¢1,195,900 days later.
The matter was subsequently reported to police in Baatsonaa on March 25, leading to his arrest.
Investigators have also uncovered that part of the stolen funds—about GH¢600,000—was allegedly used on the online betting platform SportyBet.
Police further allege that the fraudulent scheme dates back to April 2025 and involved accomplices, including two individuals believed to be based in Kumasi. Through accounts linked to these individuals, including those held at UBA and Stanbic Bank, more than GH¢846,000 was allegedly siphoned from the complainant’s funds.
Authorities have retrieved several items suspected to be proceeds of the crime, including a Toyota Corolla, a Hyundai Elantra, an Apple laptop, and GH¢481,800 in cash.
Additionally, investigators have traced suspicious withdrawals amounting to GH¢7.5 million through accounts held at Access Bank and Zenith Bank under another name, suggesting a broader financial network linked to the alleged scheme.
Police say efforts are ongoing to obtain court orders to access further banking records and to arrest other suspects connected to the case.
The matter remains under active investigation, with authorities working to uncover the full extent of the alleged fraud.
