Court remands MD over alleged $1m fraud against employer

An Accra Circuit Court has remanded a 51-year-old managing director into police custody over allegations that he conspired with two other men, currently at large, to defraud his employer of $1 million in a failed heavy-duty truck supply deal.

Emmanuel Ahadzie, a resident of Spintex, is accused of conspiring with Akponu Kwaku Joseph and Guo Nian Ming, also known as David, to defraud Moses Kwame Williams, Chief Executive Officer of Service Machinery Ghana Limited (SMGL). Ahadzie was the company’s managing director.

He has been charged with conspiracy to commit a crime, namely defrauding by false pretences, and defrauding by false pretences under Ghana’s Criminal Offences Act, 1960 (Act 29). The court did not take his plea, and he is expected to reappear on October 13, 2026.

Prosecutors told the court that Mr Williams, who lives in Baatsona-Spintex, is the CEO of SMGL, while Ahadzie, who lives in Spintex, served as the company’s managing director. Akponu and Ming, the second and third accused persons, are said to be on the run.

According to the prosecution, in April 2026, Ahadzie and his alleged accomplices agreed to collect $1 million from Mr Williams under the pretext of supplying him with six heavy-duty Sino trucks. Sino trucks are Chinese-made heavy-duty vehicles commonly used in construction, mining and haulage. The alleged contract price works out to about $166,666 per truck.

On April 17, Ahadzie allegedly persuaded Mr Williams to open an account at CalBank and deposit the money into an account belonging to Ming. After receiving the money, Ming allegedly failed to honour the agreement to supply the trucks.

Mr Williams subsequently petitioned the Police Intelligence Directorate on September 28, 2026, to investigate. Following sustained intelligence and surveillance, Ahadzie was arrested. Preliminary investigations allegedly established that Ahadzie planned with Ming to send a pro forma invoice to Mr Williams to facilitate payment of the $1 million without raising suspicion.

The prosecution said efforts are under way to arrest the two alleged accomplices.

A remand into police custody is not a conviction. It allows investigators to continue questioning the suspect while the case is pending. The accused is presumed innocent until proven guilty by a competent court. Defrauding by false pretences generally involves obtaining money or property through a false representation with intent to defraud, while conspiracy arises when two or more people agree to commit a criminal offence.

The case highlights the risks that can arise in high-value supply transactions, particularly when payments are directed to a third-party account before goods are delivered. It also underscores the growing use of intelligence-led investigations by Ghanaian police in complex fraud cases.

The court did not set bail, and no plea has been entered. The case has been adjourned to October 13, 2026.