By Emmanuel Fletcher 
A major gold deal in Accra has turned into pure tears after more than one hundred and twenty one million Ghana Cedis vanished into thin air. Raymond Okai Woode owner of McWoode Ray 24 Enterprise now faces serious criminal charges at the High Court Criminal Division in Accra.
Trouble started in July 2026 when Okai Woode convinced fellow Tier 2 dealer William Akatsi also known as Dela to release funds for a quick gold delivery. Dela who runs Yassbel Gold Enterprise trusted the proposal because Okai Woode claimed he had one hundred kilograms of gold ready for delivery within twenty four hours.
Dela quickly transferred one hundred and twenty one million seven hundred and ninety thousand seven hundred and twenty five Ghana Cedis through the Ghana Gold Board aggregator system. But instead of delivering the promised gold mountain Okai Woode delivered only three point eight six kilograms valued at five point five million Ghana Cedis on July 8 2026 before disappearing into thin air.
When investigators finally tracked him down Okai Woode confessed during interrogation that he used the huge advance to settle his personal debts. He claimed a sub aggregator called Dominic Bonsu Ventures owed him money so he decided to use Dela cash as a temporary survival strategy.
The Ghana Gold Board established that Okai Woode broke his licence conditions by providing false information and engaging in illegal conduct. Prosecutors charged him under Section 63 of the Gold Board Act 2025 Act 1140 for giving false details and failing to comply with licensing terms.
This shocking case raises big questions about security measures within the Tier 2 gold dealer network. Honest business owners are now urging regulators to tighten cash tracking systems so that hard earned money never vanishes like smoke again.
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