The son of Former Attorney-General under the Kufuor administration, Papa Owusu-Ankomah, together with two associates, has reportedly been drawn in $17 million gold deal that has gone bad.
This comes after a petition was filed by a partner of Tayvest FZCO, the Turkish company that paid more than US$17 million to a Ghanaian company for the purchase of gold.
According to the partner, he was defr+uded, saying Papa Yaw Owusu-Ankomah, son of former Attorney-General under the Kufuor administration, Papa Owusu-Ankomah, together with two associates, purportedly used a company called JG Resources Limited to obtain US$17 million to facilitate a gold transaction, but failed to deliver the full quantity agreed upon.
The petition, which was submitted on its behalf by Tony Lithur of LithurBrew Law Firm in Accra, noted that a balance of US$6.8 million was outstanding.
JG Resources is said to have had no gold concession and was neither an aggregator nor licensed by the Ghana Gold Board.
Report suggests that it therefore relied on three other Ghanaian companies, RMB Mining Company Limited, Sesi Edem Limited, and Goldline Mining Limited, advancing funds to them to supply gold bars weighing 1,200 kilogrammes for onward delivery to the Turkish firm.
Meanwhile, Sesi Edem Company Limited has strongly denied any wrongdoing and has initiated legal action to clear its name.
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