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The Wa High Court sentenced Hbadan Fuseini to 20 years in prison for defrauding under false pretenses.
The convict, aka Inner, created an investment company, Western Investments, which promised a return on investment of 100% as well as cars, motorcycles and televisions to the first group of depositors.
The program, which generated around 20 million GH ¢ of customer investments, would have affected about 200 people in Wa and its environs.
The convicted person and his accomplices gave up their job and hid after failing to meet their obligations to their clients.
They were arrested in 2014 and brought to justice.
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They first pleaded not guilty to charges of conspiracy to defraud under false pretenses and to have defrauded under false pretenses.
However, the court, presided over by Judge Kwesi Boakye, convicted both of them and sentenced Inner to 20 years in prison.
His accomplices, who used to mobilize the funds, were also fined GH ¢ 4,800.
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