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In 2013/2014, GTBank owed Innoson Motors up to ₦8.5 billion. [4] Innoson's claims on the judgement were debunked in media reports, with journalists covering the story confirming that the company's only judgement against Guaranty Trust Bank was obtained at the Federal High Court in Awka (which controversially awarded Innoson ₦4.7 billion ...
GTCO Plc was created in July 2021 following the corporate reorganization of Guaranty Trust Bank PLC (or GTBank) into a Holding Company. [ 2 ] GTCO Plc's reorganisation means it will now offer more services beyond banking; with a payments business being top of mind for the group. [ 3 ]
John Kolorah Blay was born into a humble Nzema family in Ghana's Western Region in 1941. [6] In 1959 he migrated to the United States, settling in Philadelphia, claiming he was following in the footsteps of Kwame Nkrumah in studying at the University of Pennsylvania, while in actuality working as a waiter at the Union League Club. [7]
Cybercrime in Ghana can be traced back to the "419 schemes" in Nigeria, also known as "advance-fee scams" prior to the internet. [3] These scams were a form of credit card fraud whereby the perpetrator would offer a monetary incentive, usually in the form of an international money transfer, in exchange for several down payments from the victim.
The scammers are winning. Sophisticated overseas criminals are stealing tens of billions of dollars from Americans every year, a crime wave projected to get worse as the U.S. population ages and ...
Sakawa is a Ghanaian term for illegal practices which combine modern Internet-based fraud with African traditionalist rituals. The term or word Sakawa is an Hausa word which means putting inside, how to make money.
GTB was involved in the stock market scam of 2001, that the stockbroker Ketan Parekh ran. GTB lent heavily to individuals speculating in the stock market; when the market crashed the bank suffered extensive losses. One consequence was that merger talks with UTI Bank fell through. The Reserve Bank of India (RBI) forced Gelli to resign. Gelli's ...
In the year 2014, Ghana was hit with a scandal in the Police Service involving a top official in the person of DCOP Patrick Timbilla. On 6 March 2014, after the Independence Day parade, it was announced by the police administration that Timbilla has been put under house arrest in light of the allegations leveled against him.