US Tilapia boss granted bail

The High Court in Kumasi has admitted Mr Godfred Chief Medicinie, owner of US Tilapia, a tilapia investment concern, to a GH₵50,000 bail with two sureties to be justified.

Each of the sureties must have landed property whose documents must be deposited with the registry of the court.

Godfred Chief Medicinie who is alleged to have collected monies from 90 persons in Kumasi with a promise to give them 100 per cent interest after every three months was arrested in Accra and brought to Kumasi last Thursday under a bench warrant issued by the Kumasi High Court.

In their statement of claim, the 90 persons said that they had invested GH₵740,000 (seven hundreds ad forty Ghana cedis).

They averred that Mr Medicinie collected monies from them under the pretext of investing in a tilapia rearing business and promised to offer them 100 per cent interest on their interest.

They claimed that since 2012, the company had folded up and any attempt to get both their capital and interest had proved futile.

Even after the respondent had been granted bail, scores of people, who claimed to be victims of the failed investment, were trooping to the premises of the court.

While others angrily reacted to the arrest of Mr Medicinie, some other women were seen shedding tears.