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Microfinance crisis BNI uncovers another microfinance scam

The company promised its customers a whopping 47 per cent interest on their deposits.

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Photo Credit: Daily Graphic play

Photo Credit: Daily Graphic

The Bureau of National Investigations (BNI) has uncovered another microfinance scam.

The company at the  center of this latest scam is the First Assurance Lending Services, the Daily Graphic reported on Thursday.

The company promised its customers a whopping 47 per cent interest on their deposits.

The scam was uncovered in the BNI's series of investigations into dealings of some microfianace companies following the scandal that has rocked clients of some of the institutions

The company's Chief Executive Officer, Stephen Mortson, is currently in the police's custody and is due to appear in court 1st February, according to the report.

"The extent of the scam is yet to be established, although one client is reported to have deposited nearly GH¢600,000 with the company," Daily Graphic reported.

Unnamed source told Daily Graphic people's whose investments were due for payments were told the CEO is not around to sign their checks because he has travelled. This was on multiple occasions, the source said.

 

 

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