Russian Bailed Over $2m Fraud

An Accra circuit court yesterday granted a bail application filed by lawyers for Kafarova Ramazan, the Russian businessman standing trial for allegedly defrauding another Russian an amount of $2,000,000.

Ramazan is said to have by means of false pretences taken the money from one V.V. Rudenko to do feasibility studies for a contract in Ghana.

The persecution led by DSP Abraham Annor, told the court that when the accused obtained the said amount, he went into hiding.

Ramazan, speaking through an interpreter, denied the offence.

Yonny Kulendi, lead counsel for Ramazan, had on Tuesday made a passionate attempt to secure bail for his client who was arrested by officials of the Bureau of National Investigation (BNI) in Accra.

Counsel had among other things argued that the facts only showed that the money in issue was contributed by the complainant towards a joint venture and as such, could not be a case of defrauding by false pretences.

According to him, the deal was one of a commercial agreement between the complainant and the accused adding, 'There is no fraud of any shape, form or colour.'

Mr. Kulendi said the fact that the accused could not undertake his obligation in view of the agreement did not amount to defrauding by false pretences, stressing that 'This is a proper case when your lordship ought to grant bail; it's a bailable offence, I entreat your lordship to admit him to bail, preferably a self-recognizance bail.'

DSP Annor, opposing the application for bail, had indicated that granting of bail was at the discretion of the court.

However, at the hearing of the case yesterday, the trial judge, Francis Obiri, ruled in favour of the defence lawyers.

He accordingly admitted Ramazan to bail in the sum of GH¢7 million with three sureties, all to be Ghanaians.

As part of the bail conditions, the accused person is to deposit his passport at the registry of the court until otherwise varied by the court.

Ramazan is also to report to the investigator in the case every Wednesday between 2pm and 4pm.

The case has been adjourned to April 8, 2015.
DSP Annor said on January 28, 2014, INTERPOL at the Accra CID Headquarters received a message from INTERPOL in Moscow, Russia, requesting it to locate and arrest fugitive Ramazan who is wanted in Russia for the offence of defrauding by false pretences.

The prosecutor stated that according to INTERPOL Moscow, on May 4, 2011, Ramazan defrauded Rudenko of the said amount under the pretext of taking a loan from the complainant for the purpose of a joint business development.

DSP Annor further indicated that the accused deliberately deceived Rudenko to transfer an amount of $2,000,000 to his Ecobank account in Ghana, although he knew very well that he did not intend to meet the undertaken obligation.

The prosecution told the court that all efforts made buy the complainant to retrieve his money had proven futile since Ramazan refused to communicate with Rudenko via telephone or meet him personally.

The prosecutor indicated that a bench warrant was issued on March 31, 2014 and Ramazan was arrested on February 25, 2015 by the INTERPOL Unit at the police headquarters in collaboration with the BNI at East Legon.

Ramazan in his caution statement said he knew nothing about the allegation and he was detained at the BNI for further action.