Guarantee Trust Bank Staff allegedly steals GHS12m From a customer

An Accra Circuit Court has granted bail to a 30-year-old relationship manager of Guarantee Trust Bank, Christopher Arthur, who is accused of stealing GH¢12 million from a customer and allegedly spending GH¢600,000 of the funds on sports betting.

Arthur appeared before Circuit Court 2, Accra, presided over by His Honour Fumey Edem Dennis, where he pleaded not guilty to a charge of stealing, contrary to Section 124(1) of the Criminal Offences Act, 1960 (Act 29).

The court admitted the accused to bail in the sum of GH¢12 million with four sureties, three of whom must be justified with landed property.

The case has been adjourned to May 27, 2026, for Case Management Conference (CMC).

Prosecution’s Case

According to the prosecution led by Chief Inspector Jonas Lawer, the complainant, Vincent Edem Nutakor, a businessman and opened multiple accounts with the Haatso branch of the bank in 2023 for his company, Cart Trading and Commodities Limited.

The accounts were assigned to Arthur to manage in his capacity as relationship manager.

The prosecution said between April 2025 and March 2026, Arthur allegedly dishonestly appropriated GH¢12,000,000 from the complainant’s accounts at Baatsonaa.

In January 2026, Mr. Nutakor reportedly detected irregularities in the accounts and raised concerns with the accused.

Further checks revealed that the entire sum had been misappropriated, leading to suspicion against Arthur.

On March 8, 2026, the accused allegedly attempted to mislead the complainant by generating a forged internal bank statement, which was later detected to be falsified.

The Prosecutor stated that upon sensing danger, Arthur refunded GH¢94,000 and later paid an additional GH¢1,195,900 to the complainant.

The matter was subsequently reported to the police at Baatsonaa on March 25, 2026, leading to the arrest of the accused.

During investigations, Arthur allegedly admitted to the offence and disclosed that the scheme began in April 2025 with the assistance of two individuals identified as Gyamfua Obaayaa and Abigail Thelma, both said to be in Kumasi.

Investigators revealed that various bank accounts, including those in UBA and Stanbic Bank, were used to siphon funds from the complainant’s accounts.

C/Inspector Lawer said the police have retrieved suspected proceeds of the crime, including a Toyota Corolla (GR 224-19), a Hyundai Elantra (GC 9242-20), an Apple laptop, and cash amounting to GH¢481,800.

Further investigations uncovered that additional accounts in Access Bank and Zenith Bank, allegedly linked to one Adafia Caeser Shadrack, were used to withdraw about GH¢7.5 million from the complainant’s funds.

The prosecution also indicated that Arthur allegedly spent GH¢600,000 on sports betting.

The court heard that efforts are ongoing to secure its orders to access detailed bank records and to arrest other suspected accomplices to assist in investigations.

 

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