Bank staff remanded over GH¢1 million, US$139,000 theft

A 48-year-old Collateral Administrator at Consolidated Bank Ghana, Bonny Freddie Owusu Ansah, has been sent to police custody after being accused of misappropriating over GH¢1 million and US$139,000 belonging to the bank’s clients.

Owusu Ansah appeared before Her Honour Nancy Teiko Searyoh at the Dansoman Circuit Court on Thursday, where he denied the allegation, pleading not guilty to one count of stealing under Section 124(1) of the Criminal Offences Act, 1960 (Act 29).

During proceedings, his lawyer, Mr. Martin Kpebu, requested bail, arguing that his client had a fixed residence, was married with six children, and had lived at the same home for roughly 20 years. He told the court:

“The accused has a fixed place of abode, is married with six children, and has lived in the same residence for about 20 years. He has persons of substance willing to stand as sureties and is prepared to provide title deeds to landed property as security.”

Mr. Kpebu also stressed that investigations were well advanced and that his client would not obstruct the process if released. Despite these assurances, the court denied bail and remanded Owusu Ansah to police custody to aid ongoing investigations.

The charge sheet states that between 2024 and 2026, Owusu Ansah allegedly misappropriated GH¢1,075,317.84 and US$139,034.00, funds belonging to Consolidated Bank Ghana.

Chief Inspector Kwadwo Aboagye, prosecuting, said the matter was reported by Mohammed Habib Sanda, Head of Security and Investigation at Consolidated Bank Ghana, after an internal audit revealed financial irregularities.

The prosecution explained that Owusu Ansah, employed in 2018 as a collateral administrator, was entrusted with customers’ funds intended for mortgage documentation. Between 2024 and 2026, he allegedly diverted the money for personal use without the bank’s consent.

The alleged misconduct was uncovered on March 17, 2026, during the audit. The accused was confronted, arrested, and taken to the Regional Police Headquarters for further investigation.

In a caution statement, Owusu Ansah reportedly admitted to using the funds to address financial difficulties. The case has been adjourned to a later date for further proceedings.