An Accra Circuit Tribunal on Thursday remanded Kwaku Oppong, a trader into custody for bolting with two containers of lorry tyres, valued at 575 million cedis.
Oppong, who is charged with defrauding by false pretences and issuing dud cheques, pleaded not guilty. The case is rescheduled for July 31.
Prosecuting, Police Inspector Emmanuel Tawiah Boison told the tribunal chaired by Mr. Imoru Ziblim that sometime in February this year, Oppong approached the managing director of Kinsadus Company in Accra and negotiated with him to supply him lorry tyres to sell and pay for them after the sales.
Oppong was given 500 pieces of tyres costing 575 million cedis and promised to pay back within two weeks.
He said when the time was due, Oppong made part payment of 156 million cedis and later issued a cheque for 419 million cedis to be cashed at the Prudential Bank, Achimota branch in Accra but it was dishonoured.
He said the accused, sensing danger, went into hiding until June 7 this year, when the complainant caused his arrest.