The CEO of Imajin Advertising, Arnold Kojo Asante has been convicted for fraud by Accra Circuit Court 10. He was convicted for defrauding the former deputy general secretary of the main opposition National Democratic Congress (NDC), Kofi Adams.
Arnold Kojo Asante is to pay Mr. Kofi Adams an amount of GHS24,000 (20000 penalty units) or in default serve 4 years in prison.
He will also be treated like a convicted felon with travel restrictions and others imposed by the law on convicted felons. The judgment was delivered on Wednesday, 4 December 2019.
Explaining the genesis of the fraud, lawyers for Mr. Kofi Adams explained that Arnold Kojo Asante approached Kofi Adams in 2017 January for a loan to supply car tires to Gold Fields Limited, a gold mining company.
Arnold Kojo Asante told Kofi Adams he has won a contract with the Gold Fields with his company called KAMSAJ and needed GHS800,000 loan to supply the car tires. He promised to pay back in 3 weeks after the mining company settles his debt.
Due to the relationship between Mr. Kofi Adams and Arnold Kojo Asante, he emptied his account at Unibank and gave the money to him.
After the 3 weeks deadline and Arnold Kojo Asante was stalling in paying back the money, Kofi Adams found out Arnold Kojo Asante lied and he never had any contract with Gold Fields.
Arnold Kojo Asante later convinced Kwame Sefa Kayi and Adakrabre Frimpong Manson, both veteran journalists in Ghana to plead with Kofi Adams for an extension of two weeks to settle the debt.
But he failed to fulfill his promise despite Kwame Sefa Kayi and Adakrabre vouching for him. In June 2019, Arnold Kojo Asante was declared wanted by the Ghana Police CID. He was arrested after a Bench warrant was issued.
Checks by the Accra Circuit Court 10 proved that indeed, Arnold Kojo Asante the CEO of Imajin Advertising had no contract with Gold Fields mining company.
At the time of his trial, Arnold Kojo Asante had two pending fraud cases against him at the same Circuit Court 10. One involves a Forex Bureau owner he has allegedly defrauded and a teacher.