The Jasikan Municipal Police Command in the Oti Region on Monday arrested Bless Agbenyenu, a teacher, for allegedly impersonating Mr Yao Gomado, the Member of Parliament (MP) for Akan Constituency.
The suspect was said to have created a Facebook account and named it after the legislator.
Mr Emmanuel Klu, a personal assistant to the MP, when contacted by the Ghana News Agency (GNA), said five victims had written their witness statements, following the incident.
He said more victims from Asato, in the Kadjebi District, and Dodo-Amanfrom, in the Kadjebi District, were invited to the police station to give their statements.
A press release signed by Mr Musah Mohammed, the Deputy Communications Officer, National Democratic Congress (NDC), Akan Constituency, said the impersonation scheme involved the unauthorised use of Mr Gomado's identity on social media, especially on Facebook.
"The imposter exploited this false identity to engage in deceitful activities, causing harm and potential financial loss to unsuspecting individuals," release said.
It said "local authorities are urging anyone who may have fallen victim to this fraudulent scheme to come forward and report their experiences to the police."