President John Mahama has refuted rumours that he and the First Lady, Lordina Mahama, are behind some fraudulent microfinance institutions in the Brong Ahafo region, particularly DKM.
The Director of DKM Microfinance Company, Martin K. Dele, is in the custody of the Bureau of National Investigations (BNI) for allegedly misappropriating funds of his clients.
Dele, who was on the run, reported himself to the BNI in Accra yesterday and has since been placed in custody.
Three other persons facing similar charges were arraigned last Friday, January 8, 2016.
They were remanded till January 14, 2016.
A highly placed BNI source said Dele would be arraigned within 48 hours of his arrest.
“We will take him to court for a remand warrant,” it disclosed to the Daily Graphic in Accra yesterday.
Those arraigned last Friday were Monica Afriyie, Chief Executive Officer (CEO) of God Is Love Fan Club; Nortey Noel, a businessman, who is also an associate of Monica, and Charles Asum, the founder of Jastar Motors and Investment Company.
Afriyie (popularly called Maame Korkor) and Nortey pleaded not guilty to two counts of agreeing to act together to commit crime and dishonestly appropriating GH¢50,000 cash which was invested by a man identified as Adam Jagoi.
Asum, who is standing trial for dishonestly appropriating GH¢22, 500 that was invested by a man identified as Stephen Yaw Boateng, also pleaded not guilty.
Customers of DKM Diamond microfinance and ‘God is Love fun club’ are facing a hard time retrieving their funds as managers of the facilities are unable to account for them.
The BNI has subsequently arrested the owners of such facilities as part of investigations into their operations.
The Central Bank has also begun moves to revoke the licenses of some microfinance institutions for breach of its regulations.
Speaking at a press encounter at the Flagstaff House Tuesday, Mr. Mahama said it is unfortunate that some people are playing politics with the development.
“I don’t know DKM from Adam, my wife doesn’t know DKM from Adam. I only got to see him in the papers today after his arrest by the BNI but yet we are being linked to him.
”…If anybody promises I will give you 50 percent interest on your money, just know that he’s fooling you,” the President stated.
He also disclosed that the BNI has been instructed to go after properties and assets of such institutions.
According to him, the Central Bank will soon start disbursing the remaining funds in the accounts of DKM and ‘God is Love’ to their aggrieved customers.