GOMOA EAST, Central Region – Six persons have been arrested after more than 500 traders at Kakraba Down and nearby communities in the Gomoa East District were allegedly defrauded of over GH¢500,000 in a suspected loan scam.
The victims accuse Royal Drive Group, a loan company operating in the area, of collecting deposits from prospective clients before the company’s manager allegedly absconded with the funds.
How the Alleged Scam Worked
According to the aggrieved traders, the company convinced them to enroll in various financial packages, including loan facilities and “work-and-pay” schemes for Voxy vehicles and tricycles.
Prospective applicants were first required to purchase application forms and registration cards at GH¢70 before making deposits based on the loan amount they intended to secure.
The traders said 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. The manager was nowhere to be found.
Police Arrest Six, Hunt for Manager
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.
Investigations into the alleged fraud are ongoing.
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