Businessman runs to CCF for help as court puts house on sale over debt

A businessman has run to Crime Check Foundation (CCF) for it to intervene to salvage his 3-bedroom house ordered for sale by a court.

Kofi Adu is in debt of over Ghc 40,000 after failing to fulfill his part of a deal with a local investor.

Lead up to his current predicament

According to the Techiman businessman, his predicament began when he introduced a colleague to his investor.

He said the investor gave his colleague Ghc 80, 000 to inject into his mineral drink business and to give him back his money with profit after the sale.

The investor’s action, he said was based on the trust he reposed in him.

Mr. Adu’s colleague misapplied the funds after failing to honour the agreement.

“My colleague was supposed to buy the goods and return the investor’s money with his profit but he didn’t do it within the stipulated period agreed,” he told crimecheckghana.org.

The embattled businessman said, to prevent disappointment, he gave his colleague Gh 6,000 from his own pocket to be given to the investor pending the return of his capital invested.

Mr. Adu indicated that his colleague later honored his part of the deal and returned the full investment to him to be forwarded to the investor.

However, he also reinvested the money into his almost-collapsed business.

The father of three indicated that he made further losses and partly blamed his inability to account for the money on theft by one of his workers who had traveled outside the country with part of the money.

Fast forward, Mr. Adu said he pleaded with the investor to give him a three-month grace period to refund his money.

“I could not pay within the three months he requested so I pleaded with him for another three months which he reluctantly agreed to.

Kofi Adu said he still could not pay the money within the second three months but he however made some paltry payments, which the investor was not happy about.

The investor, Mr. Adu indicated threatened him with legal action.

Eventually, the financier took the issue to court to help him retrieve his money.

The court, in its ruling, ordered the sale of a 3-bedroom house which Mr. Adu claimed to belong to his wife.

The ownership of the house was also contested, as Adu’s wife was unable to provide proof of owning the house.

“There are documents which show that I do not own the house but my wife. My wife bought the house with her own funds. I am pleading with the investor not to sell the house. He should give me a few months to pay off the debt,” Adu begged.

Crime Check Foundation (CCF) appeals to the general public to help Kofi Adu else he becomes homeless with his heavily pregnant wife and their four children.