US tilapia boss arrested
The Executive Chairman of Unique Shepherd (US) Group of Companies, popularly referred to as US Tilapia, Chief Godfred Medicine has been picked up by the Ashanti Regional Police Command.
Advertisement
The police picked him up Thursday night in Accra following a warrant for his arrest issued by the Kumasi High Court. He has since been transferred to Kumasi and expected to be arraigned in court today (Friday).
Confirming the arrest, the Ashanti Regional Police Public Relations Officer, ASP Yusif Mohammed Tanko said some people had sued Mr Medicine in a civil case.
According to ASP Tanko, since Mr Medicine failed to appear, the court issued an absconding warrant so the police escorted court bailiffs to pick him up.
He said there was no criminal case against Mr Medicine but a civil one.
Background
The US Group of Companies Limited, a Ghanaian–owned company had embarked on a massive publicised tilapia business investment on the Volta Lake. They invited investments into the breeding of tilapia with the promise of handsome returns.
The project received massive patronage from many investors from various parts of Ghana but many of them have not been able to recoup returns on their investments as advertised.
As a result they instituted a civil action against the company claiming that their investments were going down the drain since US Group of Companies had failed to pay them their agreed profit which ranged from various sums some of which were between GH¢120,000 and GH¢60,000.
Some of the investors claim they invested thousands of cedis over the last two years and were due to enjoy their profit by now but some cheques the company issued to them all bounced at the counter.
After several futile attempts to cash their money at the bank, the worried investors resorted to the court action.
Writer's email: enoch.frimpong@graphic.com.gh