An Accra court has granted bail to Wisdom Mandy, 30, and Dennis Kudzo Letsa, 29, who are accused of diverting GH₵127 million from a company through unauthorised access to its financial system. The men face charges of stealing, unauthorised access to a computer programme or electronic record and money laundering.
Mandy was released on bail of GH₵3 million with three sureties, two of whom must be secured with landed property equal to the bail sum. Letsa was granted bail of GH₵500 000 with three sureties, one of whom must be backed by landed property of equal value.
Both accused persons were ordered to report to the case investigator until the final determination of the case or further court orders. The matter has been adjourned to 26 October 2026.
The prosecution, led by Assistant Superintendent of Police Seth Frimpong, opposed the bail applications, arguing that the police needed the accused in custody to advance investigations. Counsel for Mandy, Mr Abdul Fatawu Alhassan, reiterated that his client had been in custody for nearly a month and that the period should suffice for investigations. Godwin Fatawu Dakpo, counsel for Letsa, also opposed further detention, noting the police had not concluded investigations.
The complainant, the managing director of a company whose name has been withheld, reported on 31 August 2026 that unknown persons had gained unauthorised access to the company’s financial system through a cyberattack. The attack allegedly transferred GH₵127 million into identified bank and mobile money accounts. The complainant discovered several unauthorised transactions during a routine financial reconciliation between 23 and 30 August 2026.
Investigations have led to the arrest of Mandy, who operates three businesses – Mando Pay, Hyfi Ventures and BluePeak Enterprise. The prosecution alleges that Mandy used the business accounts of these entities to receive substantial amounts of the funds, including GH₵49,711,750, GH₵19,327,950 and GH₵4,983,850 credited to two accounts with a financial institution. After the transaction limits on the three business accounts were exhausted, Mandy allegedly used Letsa’s business account at the same bank to receive additional funds.
Letsa’s account, operated under the name Klenda Trade Enterprise, allegedly received GH₵4,941,450. Letsa subsequently transferred the money into another business account, Zak AB Limited, while GH₵2,989,890 was allegedly transferred into the account of Mandy’s former girlfriend. Zakaria Karim Abdul allegedly received GH₵39,209,378 in an account, and Issah Seidu allegedly received GH₵1,131,450 through a mobile money account.
Mandy, in his cautioned statement, admitted receiving funds but claimed he used them to purchase digital assets for Arinze. He also admitted benefiting GH₵3 million from a cryptocurrency transaction. Letsa, in his cautioned statement, allegedly said Mandy contacted him to provide his account, after which substantial sums totalling GH₵4,941,450 were received through his business account.
Investigations also established that Mandy, Letsa and Abdul were friends and had attended the same university. The prosecution said investigations were ongoing to identify and trace other bank and mobile money accounts that might have received portions of the allegedly stolen funds and to identify additional persons who might have been involved.
