More than 100 traders from Aboadze, Abuesi, Inchaban, Dwomo, and Nyankrom in the Shama District have reportedly fallen victim to a suspected scam involving a company known as Business for Home Susu Company (BHSC). The company allegedly collected substantial savings from these traders but has failed to account for the funds.
The situation came to light after traders, who had been making regular deposits, found discrepancies in their passbooks, which were linked to AKGMB Multilevel Business. A subsequent police investigation, however, revealed that the actual beneficiary company was BHSC, which had been operating without the necessary permits and licenses. In Akan, ‘Susu’ refers to a traditional, informal savings scheme.
Proprietor’s Conflicting Accounts and Arrest
Michael Kojo Assan Genesis, identified as the proprietor of BHSC, reportedly gave conflicting statements during police questioning. He initially claimed to be merely a branch manager, a tactic he later admitted was designed to deflect pressure from customers. Meanwhile, agents working for BHSC allegedly failed to account for hundreds of thousands of Ghanaian cedis collected from the unsuspecting traders.
One victim, Comfort Cudjoe, recounted her ordeal on Connect 97.1 FM’s midday news on June 23, 2025. “He [Michael] asked customers for more time to gather the money for payment, claiming the funds had been given as credit to others who were yet to pay. This did not sit well with some of us, and we suspected he might abscond with our money,” she shared, expressing the growing unease among the affected traders.
Fearing their hard-earned money was at risk, the traders reported Michael to the Shama Police, leading to his subsequent arrest.
Police Confirmation and Upcoming Court Appearance
According to a report by 3news.com, District Police Commander, Supt. Paul A. Ankan, confirmed the suspicions surrounding Michael Kojo Assan’s activities. “He informed his staff that he was only managing the branch in the Shama District, unaware that he was actually the proprietor of the business. When I confronted him, he claimed that it was his strategy to avoid pressure from customers,” Supt. Ankan stated, shedding light on Michael’s deceptive tactics.
Michael Kojo Assan is expected to face court this week to answer for the allegations. This incident serves as a stark reminder for individuals to exercise extreme caution and verify the legitimacy of financial institutions and schemes before entrusting them with their savings.
Source: http://thepressradio.com
