A Relationship Manager at a private bank, Christopher Arthur, has been arraigned before the Circuit Court in Accra over the alleged theft of GH¢12 million belonging to a businessman whose accounts he managed.
But, the supect has pleaded not guilty to the charge of stealing.
Arthur is accused of diverting the funds and using a portion of it—about GH¢600,000—on sports betting platform SportyBet, while allegedly forging bank statements to conceal the transactions.
Investigators say he later admitted the offence and made partial refunds.
The case, presided over by His Honour Eyram Fumey, has also seen the recovery of several assets believed to be proceeds of the alleged crime, including vehicles and cash.
A Toyota Corolla (GR 224-19), a Hyundai Elantra (GC 9242-20), an Apple laptop, and GH¢481,800 in cash have so far been retrieved for evidential purposes.
Arthur has been admitted to bail in the sum of GH¢12 million with four sureties, three of whom are to be justified.
The bail was granted after his counsel, Samuel Laryea, applied for bail, while the prosecution, led by Chief Inspector Jonas Larwer, did not oppose it.
The court has directed the prosecution to file disclosures ahead of the next hearing, with the case adjourned to May 26 for a Case Management Conference.
Complainant’s accounts and early red flags
Court documents indicate that the complainant, a businessman, opened three accounts at the bank’s Haatso branch in 2023.
The accounts were managed by Arthur.
According to the prosecution, suspicions arose in January 2026 when the complainant detected irregularities in the accounts.
Despite initial reassurances, further checks revealed that GH¢12 million had allegedly been misappropriated.
On March 8, 2026, Arthur reportedly generated a falsified internal bank statement in an attempt to mislead the complainant, but the document was later discovered to be forged.
Partial refunds and confession
Faced with mounting pressure, Arthur is said to have admitted wrongdoing to the complainant and refunded GH¢94,000 initially, followed by an additional GH¢1,195,900 on March 12, 2026.
However, the prosecution maintains that the refunds represent only a fraction of the alleged stolen funds.
Police investigation and arrest
The matter was reported to the Baatsonaa Police on March 25, 2026, leading to Arthur’s arrest to assist with investigations.
During interrogation, he allegedly confessed that the scheme began in April 2025, with the assistance of two individuals identified as Gyamfua Obaayaa and Abigail Thelma, both said to be based in Kumasi.
Investigators further allege that funds were channelled through multiple accounts other banks.
Betting, accounts and network under probe
The prosecution also disclosed that GH¢600,000 of the stolen money was spent on SportyBet.
Further investigations revealed additional withdrawals totalling GH¢7.5 million through two different banks.
Authorities believe these accounts formed part of a wider network used to move and conceal funds, and are pursuing further accomplices.
Assets recovered and ongoing investigations
Beyond cash and vehicles already retrieved, investigators say efforts are ongoing to secure court orders for further account disclosures and to trace additional suspects linked to the alleged scheme.
The prosecution has described the case as complex, involving multiple accounts, digital transfers, and coordinated withdrawals across several banking platforms.
The case remains under investigation as police continue to track alleged accomplices and trace the full extent of the missing funds.
