‎Court grants two persons bail in alleged GH₵127m cyber theft case‎

An Accra court has granted bail to two men accused of allegedly diverting GH₵127 million from a company through unauthorised access to its financial system. ‎

‎Wisdom Mandy, 30, and Dennis Kudzo Letsa, 29, are facing charges including stealing, unauthorised access to a computer programme or electronic record and money laundering.‎

‎The prosecution, led by Assistant Superintendent of Police (ASP) Seth Frimpong, had opposed the bail applications, saying the Police needed the accused persons in custody to advance investigations.‎

‎Mandy was granted bail of GH₵3 million with three sureties, two of whom are to be justified with landed property worth the bail sum.‎

‎Letsa was admitted to bail in the sum of GH₵500,000 with three sureties, one of whom is to be justified with landed property worth the bail sum.‎

‎The court also ordered both accused persons to report to the case investigator until the final determination of the case or further orders of the court.‎

‎The matter has been adjourned to October 26, 2026.‎

‎Mandy and Letsa, together with three others -Zakaria Karim Abdul, Kevin Arinze and Issah Seidu, who are at large – are accused of transferring portions of the allegedly stolen funds into mobile money accounts and bank accounts held with 12 financial institutions.‎

‎They have been charged with conspiracy to commit crime, unauthorised access to a computer programme or electronic record, stealing, obtaining an electronic payment medium falsely and money laundering.‎

‎Mr Abdul Fatawu Alhassan, counsel for Mandy, repeated his application for bail, arguing that his client had been in custody for close to one month and that period should be sufficient for the prosecution to conclude its investigations.‎

‎He also drew the court’s attention to the fact that the accused was presumed innocent until proven guilty.‎

The counsel for Letsa, ‎Godwin Fatawu Dakpo, opposed the prosecution’s request for further detention of his client, saying the Police were yet to conclude their investigations.‎

‎He said the accused persons had been brought before the court on mere allegations, noting that their pleas had not been taken. On said the complainant, the Managing Director of a company whose name has been withheld, reported to the Police on August 31, 2026, that unknown persons had gained unauthorised access to the company’s financial system through a cyberattack.‎

‎It said the attack resulted in GH₵127 million being transferred without authorisation into identified bank and mobile money accounts.‎

‎The complainant reportedly discovered several unauthorised transactions during a routine financial reconciliation conducted between August 23 and August 30, 2026.‎

‎The prosecution said the funds were subsequently transferred into multiple accounts held with 12 financial institutions and MTN mobile money accounts, which had since been frozen.‎

‎It said investigations led to the arrest of Mandy, who operated three businesses – Mando Pay, Hyfi Ventures and BluePeak Enterprise.‎

‎Investigations allegedly established that Mandy used the business accounts of the three entities to receive substantial amounts of the funds, including GH₵49,711,750, GH₵19,327,950 and GH₵4,983,850 credited to two accounts with a financial institution.

‎The prosecution said after the transaction limits on the three business accounts had been exhausted, Mandy allegedly used Letsa’s business account at the same bank to receive additional funds.‎

‎It said Letsa operated the account under the name Klenda Trade Enterprise, through which GH₵4,941,450 was allegedly received.‎

‎Letsa subsequently transferred the money into another business account, Zak AB Limited, while GH₵2,989,890 was allegedly transferred into the account of Mandy’s former girlfriend.‎

‎The prosecution further alleged that Zakaria Karim Abdul received GH₵39,209,378 in an account, while Issah Seidu received GH₵1,131,450 through a mobile money account.‎

‎It said Mandy, in his cautioned statement, admitted receiving funds but claimed he used them to purchase digital assets for Arinze.‎

‎The prosecution said Mandy also admitted benefiting GH₵3 million from a cryptocurrency transaction.‎

‎Letsa, in his cautioned statement, allegedly said Mandy contacted him to provide his account, after which substantial sums totalling GH₵4,941,450 were received through his business account.

‎Investigations also established that Mandy, Letsa and Abdul were friends and had attended the same university, the prosecution said.

‎The prosecution said investigations were ongoing to identify and trace other bank and mobile money accounts that might have received portions of the allegedly stolen funds and to identify additional persons who might have been involved.