A Tamale High Court presided over by Justice Jerome Noble Nkrumah, has sentenced a former Internal Auditor of Baobab Microfinance Company Limited Awudu Abass to five years imprisonment in hard labour for embezzlement.
Principal State Attorney, Mr. Salia Abdul Kudus revealed that Mr. Abass was charged for stealing and found guilty by the court for the offence.
He was accordingly convicted to a fine of 834 penalty units equivalent to GH¢ 10,008 or in default spend 5 years in prison.
The convict was arrested after managers of company noticed unapproved withdrawals from their system and launched investigations into it to establish the one behind the underhand dealings.
Surprisingly however, it turned out to be the internal auditor who was neck deep in the fishy deals that nearly collapsed the company.
The services of an external auditor was engaged and it later turned out that about One Hundred and Fifty-Nine Thousand Ghana Cedis (GH¢ 159,000) could not be accounted for.
This nearly crippled hundreds of women engaged in Small and Medium-scale Enterprises the company provides financial support to in the northern region whose investments had been lodged with the company.
Mr. Abass was accordingly arrested, charged for the offence and found guilty by the court which accordingly convicted him.
At the time of going to the press, ultuimate106.com gathered that relation of the incarcerated internal auditor was making efforts to settle the fine.
The General Manager of the Baobab Financial Services, Mr. Sulemana Mansisu after the ruling, said the company was extremely shocked at the betrayal of the auditor which nearly collapsed the company.
According to him the case has been pending for the past four years.