IBOV 169,186.42 ▼ 1.06% IPC MEX 69,787.41 ▲ 0.87% MERVAL 2,848,945 — — USD/BRL5.41▲ 0.63% USD/MXN18.88▲ 0.05% USD/CLP993.63▲ 0.54% USD/COP3,169▲ 0.07% USD/PEN3.46▼ 0.08% USD/ARS1,538▼ 0.03% USD/UYU40.19▲ 3.18% USD/PYG5,965▲ 5.35% USD/BOB12.07▲ 3.37% USD/DOP60.42▲ 0.50% USD/CRC451.45▲ 2.56% USD/GTQ7.64▲ 3.29% USD/HNL26.88▲ 0.49% USD/NIO36.62▲ 0.07% USD/VES887.03▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.99▲ 2.89% USD/TTD6.71▲ 2.13% EUR/BRL6.06▲ 1.58% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99% IBOV 169,186.42 ▼ 1.06% IPC MEX 69,787.41 ▲ 0.87% MERVAL 2,848,945 — — USD/BRL 5.34 ▼ 1.32% USD/MXN 18.69 ▲ 0.62% USD/CLP 983.47 ▼ 0.57% USD/COP 3,149 ▲ 3.06% USD/PEN 3.45 ▲ 0.17% USD/ARS 1,537 ▼ 0.28% USD/UYU 40.21 ▲ 3.57% USD/PYG 5,803 ▲ 3.78% USD/BOB 11.97 ▲ 4.93% USD/DOP 60.54 ▲ 1.83% USD/CRC 451.24 ▲ 2.13% USD/GTQ 7.64 ▲ 3.23% USD/HNL 26.87 ▲ 3.37% USD/NIO 36.62 ▲ 2.81% USD/VES 885.08 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 2.63% USD/TTD 6.71 ▲ 2.07% EUR/BRL 5.95 ▲ 7.53% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99%
since 2009
Friday, October 30, 2026

Ghana Africa

Ghana Fraud Ring Stole US$100 Million

By · October 30, 2026 · 5 min read
Aerial view of central Accra, Ghana, with market streets and the Gulf of Guinea
File photo, 2023. An aerial view of a busy commercial district of Accra, Ghana's capital, with the Gulf of Guinea on the horizon. (Photo: Goldenwabbit, CC BY-SA 4.0, via Wikimedia Commons)

Crime: Ghana

Key Facts

  • Who. Isaac Oduro Boateng, 37, and Inusah Ahmed, 41, Ghanaian men that prosecutors call chairmen, meaning senior leaders who directed a fraud ring.
  • What. Both pleaded guilty to conspiracy to commit wire fraud (fraud by electronic communication), which carries up to 20 years in prison.
  • Where. A federal court in Manhattan, before US District Judge Arun Subramanian.
  • When. Ahmed pleaded on 27 October 2026 and Boateng on 29 October; sentencing dates are not yet set.
  • As of. 30 October 2026, 12:00 GMT.

Many victims believed they were in a loving relationship with someone who did not exist. On Thursday 29 October 2026, Isaac Oduro Boateng, known as “Kofi Boat”, pleaded guilty in a Manhattan federal court over his part in the fraud ring behind such scams.

Boateng, 37, and Inusah Ahmed, 41, known as “Pascal”, are Ghanaian nationals whom US prosecutors call chairmen, or senior leaders, of a criminal organisation that stole more than US$100 million. The case was brought in a US federal court, and prosecutors say many victims were older men and women, so it matters directly to US readers and their families.

What We Know

Ahmed pleaded guilty on Tuesday 27 October 2026 to one count of conspiracy to commit wire fraud. Boateng entered the same plea on Thursday 29 October 2026 before US District Judge Arun Subramanian in the Southern District of New York, the federal court district that covers Manhattan.

Wire fraud is a US federal crime that covers schemes to take money by deception using electronic communications. Each man faces a maximum sentence of 20 years in prison.

The US Attorney’s Office for the Southern District of New York, the federal prosecutor in Manhattan, says the group stole more than US$100 million through romance scams and business email compromise. In business email compromise, fraudsters pose as a trusted contact or supplier by email to trick companies into sending money.

Many victims of the romance scams were vulnerable older men and women who believed they were in online romantic relationships with fake identities. Victims were also tricked into moving money for the group, and the proceeds were laundered to West Africa.

Both men agreed to restitution and forfeiture, meaning they agreed to pay victims back and surrender criminal proceeds. Boateng’s figure is US$12,529,213.98 (about US$12.5 million in victim losses), and Ahmed’s is US$28,574,002 (about US$28.5 million).

Both men were extradited from Ghana to the United States on 7 August 2025. EOCO, Ghana’s Economic and Organised Crime Office, and the Ghana Police Service supported the investigation and the extradition.

Both kinds of scam described by prosecutors rely on trust rather than technical hacking. A fake identity or a convincing email is often all it takes.

Co-defendant Derrick Van Yeboah, known as “Van”, also pleaded guilty and was sentenced to 85 months in prison. A second co-defendant, Patrick Kwame Asare, known as “Borgar”, remains at large.

What Is Not Known

Sentencing dates have not been announced, and it is not yet known what sentence either man will receive. The 20-year figure is a legal maximum, not a prediction.

Prosecutors say the group defrauded dozens of victims, but the exact number has not been given. It is also not confirmed how much of the stolen money has been recovered.

Asare, the co-defendant known as “Borgar”, has not been arrested, and the facts released do not say where he is believed to be. Any role he may have played will be a matter for the court if he is ever brought before it.

The Black Star Gate monument in Accra, Ghana
File photo: the Black Star Gate in Accra, Ghana.

What It Means for Readers in the US

Romance scams usually begin with a stranger who builds trust and affection online over weeks or months. Sooner or later the person asks for money, often for an emergency, a trip or an investment.

The most reliable rule is never to send money to someone you have not met in person. Be wary of anyone who refuses live video calls or who asks for payment by wire transfer, gift cards or cryptocurrency.

Older people are often targeted because scammers expect trust, savings and loneliness to work in their favour. Families can help by talking openly about these scams, without blame, before a victim has lost money.

Business email compromise targets companies rather than individuals. Before paying a new or changed bank account, staff should confirm the request by phone using a number they already know.

Anyone who suspects fraud should stop sending money and tell their bank at once. In the US, victims can also report to the FBI’s Internet Crime Complaint Center at ic3.gov.

Readers can also see our coverage of a separate romance scam plea in Ghanaian Twins Plead Guilty to Romance Scam. That case is separate from the New York prosecution described here.

Frequently Asked Questions

Who are Kofi Boat and Pascal?

Kofi Boat is Isaac Oduro Boateng, 37, and Pascal is Inusah Ahmed, 41. Both are Ghanaian nationals who pleaded guilty to conspiracy to commit wire fraud in New York.

What sentence do they face?

Each faces a maximum of 20 years in prison. Sentencing dates have not been announced.

How much did the group steal?

US prosecutors say the Ghana-based group stole more than US$100 million through romance scams and business email compromise. Prosecutors speak of dozens of victims, but the exact number and the amount recovered have not been confirmed.

How can I spot a romance scam?

Be cautious if someone you have only met online asks for money or avoids meeting in person. Never send money to someone you have not met.

Sources: US Attorney’s Office, Southern District of New York (justice.gov/usao-sdny); Ghana Economic and Organised Crime Office; court records.

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