A former contract employee of Absa Bank Ghana, Emmanuel Sakyi Afriyie, has been handed a 10-year prison sentence for masterminding a sophisticated financial fraud that drained over GHC 1.2 million from customer accounts.
The High Court in Accra delivered the verdict Tuesday, convicting the 25-year-old on charges of fraudulent electronic fund transfers, stealing, unauthorized tampering with electronic records, and money laundering.
Presiding Judge Justice Ruby Aryeetey detailed how Afriyie exploited his position to manipulate customer Visa card data, systematically diverting funds between March and June 2023. His scheme collapsed when airport authorities intercepted him and his girlfriend, Cecil Nyamesem Agyarkwa, at Kotoka International Airport on June 4, 2023, as they prepared to board a flight to Dubai. Investigators later linked Afriyie to fraudulent transactions impacting multiple accounts, though he maintained his innocence throughout the trial.
While Afriyie received staggered sentences totaling 25 years across four charges, Justice Aryeetey ordered the terms to run concurrently, limiting his incarceration to a maximum of 10 years with hard labor. The court underscored the severity of banking sector breaches, noting the case as a warning to financial insiders abusing system access.
In a parallel ruling, co-accused Agyarkwa, a 22-year-old student initially charged with conspiracy to steal, walked free after prosecutors failed to substantiate claims of her involvement. Evidence reviews showed no direct ties to the fraud, prompting the judge to declare her acquittal “swift and unambiguous.”
The sentencing highlights growing judicial scrutiny of digital financial crimes in Ghana, particularly those involving institutional insiders. Banking analysts suggest the case may pressure lenders to tighten internal controls, as public trust erodes when employees weaponize access to client assets. Meanwhile, victims of Afriyie’s scheme await clarity on restitution processes, with court documents remaining silent on recovery plans for the stolen millions.
Security experts have applauded the ruling’s deterrent messaging but caution that concurrent sentencing risks minimizing the gravity of multi-layered financial crimes. “Ten years seems lenient for the scale of harm caused,” remarked Accra-based financial crime researcher. “This should ignite broader conversations about sentencing guidelines for digital-era theft.”
As Afriyie begins his term at Nsawam Medium Security Prison, the case leaves lingering questions about accountability in Ghana’s rapidly digitizing banking sector—and whether institutions themselves will face sharper scrutiny for vulnerabilities exploited by rogue staff.
