This case revolves around Benjamin Appiah Boateng, a 35-year-old trader accused of orchestrating a sophisticated investment fraud scheme that allegedly swindled two individuals out of a substantial sum of money. Boateng presented himself as a skilled forex trader specializing in lucrative online investments, particularly in UDST and Binance, two prominent platforms in the cryptocurrency world. He leveraged this fabricated expertise to gain the trust of his victims, Mr. Berry Kwadwo Agyapong, a business consultant, and Mr. David Burke, a businessman, both residing in Accra. The alleged fraud unfolded through a chain of introductions and assurances, culminating in significant financial losses for both complainants. The case is currently under investigation by the Accra Circuit Court Nine, with Boateng remanded into police custody.
The narrative begins with Mr. Agyapong, who had already invested a considerable sum of approximately USD 300,000 with Boateng in UDST and Binance. Confident in the purported success of his own investments, Mr. Agyapong introduced Boateng to Mr. Burke, painting a picture of guaranteed profitability and consistent dividend returns. This persuasive endorsement led Mr. Burke to make an initial investment of GHC 555,000. Encouraged by the seemingly positive trajectory of the investment, Mr. Burke subsequently entrusted Boateng with an additional GHC 9,890,000, substantially increasing his stake in the purported venture. Throughout this period, Boateng maintained regular communication with both Mr. Agyapong and Mr. Burke, providing reassurances of the investments’ healthy growth and the timely disbursement of dividends.
The alleged deception began to unravel when Mr. Burke decided to withdraw his investment and requested the return of his capital along with any accrued dividends. This request, made on December 14, 2024, triggered a dramatic shift in Boateng’s behavior. He became unresponsive, ceasing all communication with both complainants and ignoring their repeated attempts to contact him. This sudden silence raised alarm bells for Mr. Burke, who promptly contacted Mr. Agyapong to express his concerns about Boateng’s uncharacteristic silence and evasiveness. Mr. Agyapong, equally perplexed by Boateng’s abrupt change in demeanor, also attempted to reach him.
Boateng’s response to Mr. Agyapong’s inquiry was a chilling confession delivered via a WhatsApp voice note accompanied by a purported suicide note. In this message, Boateng admitted to squandering the entirety of their investments on an online gambling platform known as “Stake.” This shocking revelation exposed the alleged fraud, revealing that the promised investments were never made and that the reported dividends were merely a fabrication designed to maintain the illusion of a successful venture. The confession painted a grim picture of financial ruin, leaving both Mr. Agyapong and Mr. Burke facing substantial losses.
Following Boateng’s confession, a formal report was filed with the police, leading to his swift arrest. During questioning, Boateng reportedly confessed to the offenses, confirming the allegations made by the complainants. He is now facing charges of stealing and fraud, and his plea has not yet been taken as the investigation is still ongoing. The court, presided over by Mr. Samuel Bright Acquah, has remanded Boateng into police custody, ordering him to reappear in court on January 13, 2025. Chief Inspector Jonas Lawer presented the prosecution’s case, detailing the sequence of events that led to the alleged fraud and the subsequent investigation.
This case highlights the risks associated with online investments and the importance of due diligence. The alleged actions of Benjamin Appiah Boateng serve as a stark reminder of the potential for fraudulent schemes within the digital financial landscape. The case also underscores the critical role of law enforcement in pursuing and apprehending individuals who exploit the trust of others for financial gain. The upcoming court proceedings will determine the extent of Boateng’s culpability and the consequences he will face for his alleged crimes. The outcome of this case will likely have significant implications for both the complainants seeking to recoup their losses and for potential future victims of similar investment scams.
