By Gloria Amoh
The Asokwa Circuit Court Two in Kumasi has sentenced Senyah Poku and Yaa Serwaa of Senyah Poku Enterprise and fined Gh₵ 7,200 each after pleading guilty to charges of operating an unlicensed Forex Bureau.
The fines serve as convictions for Senyah Poku and Yaa Serwaa for pleading guilty on counts of “conspiracy to engage in the business of dealing in foreign exchange without licence” and engage in the business of dealing in foreign exchange without licence.
The Bank of Ghana, the Ashanti Regional Police Command, and other Financial Institutions Supervision Departments started this undercover investigation on October 29, 2023, and ended on December 3, 2023. This investigation led to the arrest of a total of four individuals running an illegal forex bureau in Kumasi.
The other two (2) suspects who are still awaiting trial are Adam Isak and Alhasaan Nuhu of the Macowasi Forex Bureau. These two individuals were operating without a licence on the KNUST campus.
According to the Bank of Ghana, dealing in foreign exchange without any approval or licence is a punishable offence under the Foreign Exchange Act of 2006.
