During interrogation, the police were able to retrieve GH¢20,000 from one of the officials of the company and were poised to retrieve several thousands of depositors’ funds.
Bank sources
Sources at the central bank told the Daily Graphic that officials of the unlicensed company were not able to provide the police with records of their operations, including deposits collected and depositor list.
The unlicensed microfinance company which had been closed down had offices in Takoradi, Assin Fosu, Ofankor in the Greater Accra Region and Drobo in the Brong Ahafo Region.
BoG notice
The central bank issued a statement last week warning that, “Anyone who does business with Wyselink Microfinance Limited does so at their own risk and the Bank of Ghana will not be liable for refund any deposit lost by a depositor.”
The directors of 30 microfinance companies were in March this year dragged to the Economic and Organised Crime Office (EOCO) to be investigated and if found culpable, prosecuted for alleged embezzlement and fraud.
Among other things, the anti-graft agency is to investigate how more than GH¢90 million belonging to depositors was used by the microfinance companies.
A highly placed source at EOCO told the Daily Graphic on condition of anonymity that more than 4,500 customers risked losing their lifetime savings to the struggling microfinance companies.