Back Modernghana Two remanded over alleged GH¢127million cyber theft
Two persons accused of stealing GH¢127 million from a company through unauthorised access to its computer systems have been remanded by the Accra Circuit Court.
Wisdom Mandy, 30, and Dennis Kudzo Letsa, 29, whose pleas were not taken, are 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.
The two are alleged to have acted with three others – Zakaria Karim Abdul, Kevin Arinze and Issah Seidu – who are currently at large.
The prosecution, led by Assistant Superintendent of Police Seth Frimpong, told the court that the Police were still investigating the case and pursuing other persons allegedly involved.
The court remanded Mandy and Letsa into lawful custody and adjourned the case to September 22, 2026.
The prosecution said the complainant, the managing director of a company at Ashalley Botwe in Accra, reported the matter to the Police on August 31 after the company detected unauthorised transactions involving GH¢127 million.
According to the prosecution, the company discovered during a routine financial reconciliation that several transactions had been carried out through its financial systems between August 23 and August 30, 2026.
The funds were allegedly transferred into multiple bank accounts held with 12 financial institutions and into MTN Mobile Money accounts.
The prosecution said the accounts identified by investigators had since been frozen.
Investigations led to Mandy's arrest. He operates Mando Pay, Hyfi Ventures and BluePeak Enterprise, the court heard.
The prosecution said substantial amounts of the allegedly stolen funds were credited to accounts operated by Mandy's businesses, including GH¢49.7 million, GH¢19.3 million and GH¢4.98 million.
After transaction limits on the three accounts were exhausted, Mandy allegedly used Letsa's business account to receive additional funds.
The court heard that GH¢4.94 million was deposited into Letsa's account, operated under the name Klenda Trade Enterprise.
Letsa allegedly transferred the money to another business account, Zak AB Limited.
The prosecution further alleged that GH¢2.99 million was transferred into an account belonging to Mandy's former girlfriend, while Abdul allegedly received GH¢39.2 million into an account.
Seidu also allegedly received GH¢1.13 million through a Mobile Money account.
The prosecution said Mandy, in his caution statement, admitted receiving some of the funds and claimed that he used them to purchase digital assets for Arinze.
He also allegedly admitted benefiting GH¢3 million from cryptocurrency transactions.
Letsa allegedly told investigators that Mandy contacted him to provide his account for the receipt of funds, after which GH¢4.94 million was deposited into his business account.
The prosecution said investigations had established that Mandy, Letsa and Abdul were friends and had attended the same university.
It said investigations were continuing to trace other bank and Mobile Money accounts that might have received portions of the allegedly stolen funds and to identify other persons who might have been involved.
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