Forex trader remanded for allegedly defrauding two persons
The accused, Benjamin Appiah Boateng, is said to have promised the victims, Mr. Berry Kwadwo Agyapong and Mr. David Burke, lucrative returns from investments in USDT on Binance and other cryptocurrency platforms.
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A 35-year-old trader has been remanded by Accra Circuit Court Nine for allegedly defrauding two individuals of USD 300,000 and GH₵10,445,000 under the guise of online investment opportunities.
The accused, Benjamin Appiah Boateng, is said to have promised the victims, Mr. Berry Kwadwo Agyapong and Mr. David Burke, lucrative returns from investments in USDT on Binance and other cryptocurrency platforms.
Boateng’s plea was not taken, as investigations into charges of fraud and theft are still ongoing. The presiding judge, Mr. Samuel Bright Acquah, has scheduled the next court appearance for January 13, 2025.
Police Chief Inspector Jonas Lawer told the court that Mr. Burke, a businessman, and Mr. Agyapong, a business consultant, both residents of Accra, were introduced to Boateng, a trader based in Oyibi, by Mr. Agyapong.
At the time, Mr. Agyapong had already invested approximately USD 300,000 with Boateng, who claimed to specialize in cryptocurrency investments. Convinced by Agyapong’s endorsement and promises of consistent dividends, Mr. Burke initially invested GH₵555,000.
Subsequently, Burke entrusted Boateng with an additional GH₵9,890,000, bringing his total investment to over GH₵10 million.
Inspector Lawer revealed that Boateng regularly assured the complainants that their investments were yielding profits and that dividends were being paid as agreed. However, on December 14, 2024, Mr. Burke decided to withdraw his investment and requested the return of both his capital and accumulated dividends.
When Burke attempted to contact Boateng, the accused stopped answering calls. Alarmed by the lack of communication, Burke informed Agyapong, who also tried reaching Boateng.
In response, Boateng reportedly sent a WhatsApp voice note and a suicide note, confessing that he had lost the entire investment through gambling on an online platform called “Stake.”
The complainants reported the matter to the police, leading to Boateng’s arrest. During interrogation, he admitted to misappropriating the funds.
The case has attracted significant attention, and the court has ordered Boateng’s continued detention as investigations proceed.
