Delle denied the charge of fraudulent breach of trust and was remanded into police custody until January 21.
The Chief Executive Officer of DKM Microfinance LTD, Martin K. Delle has been arraigned before an Accra Circuit Court presided over by Aboagye Tandoh for dishonestly appropriating GH¢40,000.
Delle however denied the charge of fraudulent breach of trust and was remanded into police custody until January 21.
Lamti Apanga, lawyer for Delle, had urged the court to grant bail to his client. He said the police had presented the facts in a way which made his client look as though he worked with the other accused persons in the case.
Apanga added that the other persons in the case operated separately of each other and that the case was purely a civil transaction between individuals.
Three other microfinance operators in the Brong Ahafo Region are also in the custody of the Bureau of National Investigations (BNI) over their alleged roles in swindling peoples of their monies.
The arrested people were Noel Nortey, Nkoranza Branch Manager of God Is Love Fun Club; Charles Asum, Managing Director of Jastar Group of Companies and Monica Afriyie popularly called Maame Korkor, Managing Director of God Is Love.
The DKM boss Martin Delle turned himself in after hearing that he was on the run whilst the other three have already been put before court.
The Bank of Ghana in October 2015 froze accounts of DKM Microfinance after the central bank placed a 120 day moratorium on the company for flouting the Banking Act.
An audit report by the Bank of Ghana released to the Brong Ahafo Regional Security Council (REGSEC) established that DKM has no investment in the country and beyond after it collected huge amounts of money from numerous customers.
DKM, contrary to Bank of Ghana (BoG) regulation, set up subsidiary companies and lent people’s money to themselves, the report said.
About fifty persons were said to have committed suicide in the Brong Ahafo Region after several months of failed efforts to get back their monies.