DANIEL GIBSON DANSO vs. INTECELL INVESTMENTS LTD & 3 ORS. [2019]DLCA6910

Date	2019-07-18
Suit No.	CIVIL APPEAL SUIT NO. H1/57
Citation No.	[2019]DLCA6910

P. K. GYAESAYOR JA (PRESIDING)

A.LOVELACE-JOHNSON JA

CECILIA SOWAH JA

MR. CHARLES BENTUM FOR DEFENDANTS/APPELLANT

NANA KOFI BOKOE FOR PLAINTIFF/RESPODENT

[2019]DLCA6910
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													<main id="main" class="content" style="min-height: 60rem" >DANIEL GIBSON DANSO<o:p></o:p>(PLAINTIFF/RESPONDENT)<o:p></o:p>vs.<o:p></o:p>INTECELL
INVESTMENTS LTD &amp; 3 ORS.<o:p></o:p>(DEFENDANTS/APPELLANTS)<o:p></o:p><o:p>&nbsp;</o:p>[COURT OF APPEAL, ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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CIVIL
APPEAL SUIT NO. H1/57 &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;DATE: 18TH JULY, 2019<o:p></o:p>

</div>COUNSEL:
<o:p></o:p>MR.
CHARLES BENTUM FOR DEFENDANTS/APPELLANT<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

NANA
KOFI BOKOE FOR PLAINTIFF/RESPODENT<o:p></o:p>

</div>CORAM: <o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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P.
K. GYAESAYOR JA (PRESIDING), A.LOVELACE-JOHNSON JA, CECILIA SOWAH JA <o:p></o:p>

</div><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt;
text-align:center;line-height:115%;mso-outline-level:1;border:none;mso-border-bottom-alt:
solid windowtext 1.5pt;padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">JUDGMENT<o:p></o:p>

</div>GYAESAYOR, JA<o:p></o:p>This is an appeal against the decision of the High
Court, Accra dated 5th of March 2018.<o:p></o:p>In this judgment the plaintiff/respondent shall be
called plaintiff whiles the appellants shall be called defendants.<o:p></o:p>The plaintiff is a retired police officer who invested
an amount of Gh¢80,000 into an alleged financial institution belonging to 2nd
to 4th defendants known as Intercell Financial Investment.&nbsp; He was to be paid a monthly interest of Gh¢2,400
from 5th June 2011 to February 2012.<o:p></o:p>After some initial payment of the interest agreed
upon, they ceased paying.&nbsp; Plaintiff then
applied for a return of half of his investment which amounted to Gh¢40,000 but
they failed to pay. He then reported the matter to police CID who found during their
investigation that the defendants were not licensed to operate as a financial
institution.&nbsp; He therefore wrote to terminate
the agreement.<o:p></o:p><o:p>&nbsp;</o:p>As a result of police investigation the matter went
to the Circuit Court who discharged the defendants on the grounds that this is
a civil matter to be pursued in the civil courts and not in the Criminal Court.<o:p></o:p><o:p>&nbsp;</o:p>Upon this decision of the Circuit Court, the
plaintiff issued a writ in the High Court on 3rd November, 2017
claiming the following reliefs;<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The
amount of Eighty-eight Thousand Ghana Cedis (Gh¢88,000.00) being the sum of the
plaintiff’s principal and accrued interest thereon.<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
on the said sum from 5th July, 2012 to the day of final payment at
the prevailing commercial bank rate.<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">c.