Three officials of the Union Bank at Senya Beraku near Winneba and a student from the University of Education Winneba, are helping the Winneba Police in their investigation into an alleged deal involving an amount of GH¢710,000 belonging to the bank.
The former manager of the bank, who is also involved in the deal is on the run and had been declared wanted by the police.
A top official of the Winneba Municipal Police Command, who disclosed this to the Ghana News Agency in Winneba on Monday, however did not mention the names of the culprits for security reasons.
He said between January and September this year, the manager of the bank's headquarters at Senya Beraku connived with the three staff members and managed to transfer the amount into the account of the student.
According to the police, the three officials also assisted the student to cash the amount, which they shared among themselves.
The Police said sometime this month, the manager went on leave and the new one who replaced him detected the fraud after cross-checking the bank's accounts.