A Ghanaian businesswoman has been remanded in police custody for allegedly using false documents to secure letters of credit (L/Cs) in a US$370,000 swindle.

Madam Patience Tyerman is accused of defrauding a Spanish company, West Coast Frozen Fish during 2008.

Accusations

According to prosecutors, Tyerman presented documents apparently used by her company, Fashonog Foods, to secure L/Cs issued by the Intercontinental Bank to buy fish from the Spanish supplier.

The documents used to obtain the L/Cs included copies of SWIFT transfers apparently initiated by Fashonog Foods and executed by the National Investment Bank and Zenith Bank.

The court was told that these documents turned out to be fakes.

Denials

Tyerman denies the allegations and has pleaded not guilty.

According to local sources, she has been granted bail on condition she keeps a pledge to refund the amount of US$370,000 to West Coast Frozen Fish.

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