Fifty-seven-year-old Anthony Egyim was arrested last Wednesday after he had gone into hiding for months.
Briefing the Daily Graphic, the Asokwa District Police Commander, DSP Mr George Bawa, said Yaw Kodua, 29, a dealer in computer accessories who had returned from Italy where he was based, was approached by the suspect, Mr Egyim, who promised to double any amount of money he had.
After Egyim had succeeded in persuading Kodua, the former, together with his accomplice, one Frank who is at large, demonstrated the act apparently to convince and entice Kodua.
Initially, the two suspected swindlers increased GH¢50 to GH¢150 of which they took GH¢50 and gave Kodua GH¢100.
According to DSP Mr Bawa, days later, the two again increased GH¢500 to GH¢1,500. They took GH¢500 as their share and gave Kodua GH¢1,000.
After the two demonstrations, Kodua appeared convinced but was unable to raise the GH¢30,000 which the two had demanded to be increased to GH¢300,000.
Kodua was, however, able to raise GH¢10,000 which he gave to the two who promised to be back with the increased money but never returned.
Unlike the two demonstrations which were done in his presence, the last one was taken away because they claimed they needed some special chemicals because of the quantum.
After several attempts to get through to Mr Egyim had failed, Kodua pretended to have travelled back to Italy by switching off his mobile phone for weeks.
Mr Egyim, who until then had been hiding, then resurfaced at his usual Baba Yara Stadium area where he was grabbed by Kodua and handed over to the Asokwa police.
DSP Mr Bawa said Mr Egyim and his accomplice had been charged with money doubling and would be put before court.