Credit Union Manager Jailed For Embezzling Funds

Credit Union Manager Jailed For Embezzling Funds
Ernest Aglago



Ernest Aglago, a former manager of the Dzodze Branch of the Winners Co-operative Credit Union, Akatsi in the Volta Region has been convicted of stealing contrary to the Criminal Offences Act, 1960 (Act 29). The accused was convicted on October 13, 2022 and sentenced to serve a five-year prison term in hard labour after he was


found guilty by the Sogakope Circuit Court. Prior to the conviction, the Police Prosecutor on the case, the Chief Inspector Paul Aidoo narrated before the Court presided over by His Lordship Issac Addo that the complainant, Samuel Tuagbor is also the accountant of Winners Co-operative Credit Union, Akatsi whilst the accused, Ernest



Aglago was the manager at the Dzodze branch of the Union. He said between July 1, 2017 and September 1, 2018 Ernest, 31-year-old stole the sum of GHC32,962.52, being the property of the Winners Co-operative Credit Union Limited, Akatsi. In the 2017/2018 financial year, the books and records of the accused were audited



during the financial year and it was detected that he had embezzled cash; the sum of GHC32,962.52 which was petty cash allocated to him to run the Union’s branch during the financial year. It was detected that accused manipulated the system by keying in fake transactions to balance the system account thereby able to cash the



said money for his private use. On July 11, and 27, 2017 he keyed into the system dubious transactions indicating the purchase of a number of computers to furnish the office. Again on July 14 and 24, 2018, he also opened accounts with two ghost names - Amenyo Hope and Amenyeseade Ahiable; with which he secured loans for



himself worth GhC3,000 and GHC5,000 respectively from the petty cash. Through similar documents, the accused succeeded in embezzling various sums of money from the petty cash book. Accused admitted the offence and stated that he keyed those fake transactions using his own password and promised to pay back the money.



After investigation, he was charged with the offence and put before the Sogakope Circuit Court in January, 2019. He pleaded not guilty to the charge and went through full trial until Thursday, 13th October, 2022 when the court delivered judgement. At the trial, the prosecution called four witnesses including the investigator and tendered



copious documentary evidence. The accused person testified himself and did not call a witness. After the trial, the Court found him guilty of the offence of stealing and accordingly convicted and sentenced him to serve a prison term of 5 years in hard labour.