Professor Stephen Kwaku Asare is a legal practitioner
Private legal practitioner Professor Stephen Kwaku Asare has raised questions about the prosecution’s case against lawyer and Manhyia South MP Nana Agyei Baffour Awuah, focusing on a GH¢14.85 million judgment debt, a GH¢5 million settlement and a GH¢1 million cheque.
In a Facebook post titled “Republic v. Awuah Without Tears,” Kwaku Azar, as he is popularly known, said the prosecution’s case centres on how SIC Life, which was owed GH¢14.85 million by Equity Savings & Loans, eventually agreed to accept GH¢5 million to settle the debt.
Money Laundering, Financial Loss: See the charges filed against MP Baffour Awuah
According to the prosecution, SIC Life had attached a 31.93-acre property belonging to Equity, which had a reserve price of GH¢25 million.
However, while the property was under attachment, Equity allegedly purported to sell it to Eco Swiss for GH¢21.76 million. Eco Swiss later challenged the attachment, leading to a settlement.
Azar questioned why SIC Life would accept GH¢5 million when it had a GH¢14.85 million judgment and a property with a GH¢25 million reserve price.
“Why was GH¢5m a reasonable settlement of the GH¢14.85m judgment?” he asked.
He also questioned the lawyer’s fee, which the prosecution says increased from about GH¢945,000 under the original agreement to approximately GH¢2.2 million under the settlement.
“Why did the lawyer’s fee move from approximately GH¢945,000 under the original engagement to approximately GH¢2.2m under the settlement?” he asked.
Another issue highlighted by Azar was why Eco Swiss, rather than SIC Life, was paying the lawyer who was acting for SIC Life.
The prosecution further alleges that after receiving the purported professional fee, Awuah issued a GH¢1 million cheque to the person who had been SIC Life’s Managing Director and had signed the settlement.
Azar said the payment does not, by itself, prove wrongdoing, but questioned its purpose.
“What was the GH¢1m payment from the lawyer to the former MD for?” he asked.
Money Laundering, Financial Loss: See the charges filed against MP Baffour Awuah
Meanwhile, Awuah has pleaded not guilty and has since been granted bail by the Accra High Court.
Read Azar’s full breakdown of the prosecution’s case below:
MAG/MA
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