How businessman allegedly ‘drove out’ five brand new Toyota cars without paying

A businessman is in court for allegedly purchasing five brand new Toyota vehicles to the tune of GH₵1.8 million without paying.

The accused person brought before the Accra Circuit Court is the Chief Executive Officer of Global Motor Company Limited (GMTCL), Nareswar Singh.

According to the facts of the case, “on April 18, 2019, GMTCL purchased five models of Toyota vehicles from TGCL at a cost of GH₵1.819 million which was to be paid through Letters of Credit (LCs).

“The vehicles were duly supplied with reference to the sale agreement signed by both companies [Toyota Ghana Company Limited and GMTCL].

“But upon maturity of the LCs, GMTCL refused to authorise its bank to pay TGCL but rather issued two separate cheques which were later declined,” this was how the businessman made away with the five new vehicles.

The prosecutor, Assistant Superintendent of Police, Emmanuel Nyamekye presented the facts of the case to the court presided over by Emmanuel Essandoh.

According to the prosecution, both cheques were dishonoured when they were presented at the bank.

He said a report was then made to the police, which led to the arrest of the accused person.

The accused admitted to the crime in his caution statement and said the banks had declined the LC because they were presented late and there was a discrepancy.

ASP Nyamekye said the two banks where the cheques were presented “were invited to assist in investigations and a report retrieved showed the banks did not have adequate funds at the time the cheques were issued.”

Following further investigations, the accused person was charged with the offence of defrauding by false pretence and issuing of false cheques.

Bail application

The judge, Emmanuel Essandoh granted the GMTCL boss “GH₵2 million bail sum with three sureties, all to be public servants earning not less than GH₵3,000 and one to be justified.”

The sureties with justification are also to provide proof of ownership of property worth GH₵1 million.

This was after his legal team had argued that “his client was a reputable businessman, who was willing to cooperate with the police.”

The GMTCL boss, was brought before the court for allegedly issuing two fake cheques to Toyota Ghana company Limited (TGCL) after purchasing five models of Toyota vehicles at a cost of GH₵1.82 million.

A crime, he has pleaded not guilty to.

He has been slapped with two counts of issuing of false cheques and one count of defrauding by false pretence.

The case continues on September 1, this year.