Singaporean Businessman Granted Bail in Alleged $3 M Fraud Case Involving NDC Regional Chairman
A Singaporean national, Mr. Toh You Kang, who is at the centre of a high-profile fraud case involving the Greater Accra Regional Chairman of the National Democratic Congress (NDC), Hon. Emmanuel Nii Ashie Moore, has been granted police inquiry bail as investigations continue.
Mr. Toh is facing charges of defrauding by false pretence after allegedly swindling Hon. Ashie Moore and a Chinese investor out of approximately three million US dollars ($3 million) under the guise of a joint business venture.
The Alleged Fraud
Court documents and police sources reveal that Mr. Toh allegedly presented a lucrative business proposal to Hon. Ashie Moore, involving the establishment of a cable manufacturing company in Ghana.
As part of efforts to promote industrial development and attract foreign investment, Hon. Moore is said to have facilitated the introduction of a Chinese investor to Mr. Toh, who then transferred the $3 million to support the venture.The transaction was reportedly made in good faith, with the expectation that the funds would be used to acquire machinery, lease factory space, and commence operations within Ghana’s industrial sector.
However, shortly after receiving the funds, Mr. Toh is alleged to have failed to fulfill his obligations, prompting suspicion and eventual legal action. Sources close to the investigation say Mr. Toh has acknowledged receiving the money, but has so far failed to provide a satisfactory account of how the funds were utilized.
Hon. Ashie Moore, who played a key intermediary role in the arrangement, lodged a formal complaint after the project stalled, and the Chinese investor raised concerns about the lack of progress.
Legal Proceedings Underway
Mr. Toh was formally charged and arraigned before a court in Accra. As the matter proceeds through the judicial process, the court has taken decisive steps to prevent the accused from fleeing the jurisdiction.
His travel documents have been confiscated by court order, and he is required to report regularly to the police as a condition of his bail.The police have confirmed that the matter remains under active investigation, with further forensic audits and financial tracking being undertaken to trace the movement of the funds.
Investigators are also probing whether any accomplices or shell companies were involved in the alleged scheme.
Reactions and Implications
The case has sent shockwaves through political and business circles, particularly because of Hon. Ashie Moore’s involvement as a senior political figure.
While he is not under investigation himself, his role in connecting the investor to Mr. Toh has drawn public attention, especially given the scale of the alleged fraud. The development has also sparked wider debate over investor protection, due diligence, and the credibility of foreign partnerships in Ghana’s business environment. Neither Mr. Toh nor his legal team have made public comments on the case, but sources suggest they may be pursuing an out-of-court settlement.
Hon. Ashie Moore is also yet to issue an official statement, though party insiders say he is cooperating fully with investigators.
Next Steps
The case is expected to return to court in the coming weeks as prosecutors gather more evidence. Authorities have urged the public, especially potential investors, to remain vigilant and conduct proper background checks when entering into business partnerships in Ghana.
Meanwhile, the police say they are committed to ensuring justice is served and are working closely with relevant agencies, including the Financial Intelligence Centre, to trace any assets connected to the missing funds.
Source: https://expressnewsghana.com/
