Lawyer In $3.5bn Deal

Charles Owusu Juanah, Chief Executive Officer of K-San Law Firm, and his friend Victor Amoah, an agronomist, who have been accused of engaging in money laundering, were each granted a $4million bail at an Accra Fast Track High Court, Financial Division, yesterday.

The accused persons were alleged to have obtained an amount of $3.5million through money laundering activities.

They however pleaded not guilty to two counts of conspiracy to commit crime and aiding and abetting money laundering activities.

The accused persons were granted bail with two sureties, each to be justified, after their lawyers, Ellis Owusu Fordjour, Thadeus Sory, and George Heward Mills, had pleaded with the court presided over by Justice John Ajet-Nafam, for bail.

The judge, who said he had taken a serious view of money laundering offences vis-a-vis the human rights of the accused persons, after granting them bail, ordered them to report to the Economic and Organised Crime Office (EOCO) everyday.

A third accomplice, Nana Kwaku Adjei, was however remanded in police custody and the case was adjourned to January 26, 2012.

In applying for bail, Mr. Owusu Fordjour, the lead counsel, stated that the charges preferred against the accused persons were seriously flawed as it was not possible for someone to abet money laundering offences.

He called for proper investigations, believing that they were not the right persons to be charged.

Counsel, who said their offices and homes were known to the security officials, prayed the court to grant them bail so they could confer with their clients.

George Heward Mills added that it would be unjust to keep the accused persons in custody under the circumstances established by the case.

Thadeus Sory, another lawyer, argued that the facts of the case did not show any form of money laundering and therefore it should not be the basis for which they should be remanded.

Joseph Turkson, counsel for Nana Kwaku Adjei, called on the court to exercise its discretion in granting his client bail on condition to ensure that he made himself available to the court.

The State Attorney, Edward Cudjoe, had objected to the bail application, stating that investigations had not been completed and that they were currently receiving more information on the matter.

He noted that the accused persons, when granted bail, would seriously interfere with their investigations, praying for seven additional days to complete investigations.

The judge refused the bail application of Mr. Turkson and granted bail to the other two – Charles Juanah and Victor Amoah – who had been in custody for a week now.

According to the facts of the case, Charles Juanah and Victor Amoah lured a Dubai-based businessman, Mohammed Shafiq, who is the Chief Executive Officer of Jampur Group, and his agents into the country to establish business dealings in gold.

When Mr. Shafiq and his agents arrived in Ghana, they were told that the gold had been kept in a vault at the SG-SSB Bank and were asked to pay $3.5 million before it would be released to them.

The source said the money was lodged in an account at the Abeka branch of GT Bank and the alleged gold subsequently handed over to the buyers.

According to the source, Juanah, at about 9:45pm on November 17, 2011, went to the GT Bank headquarters to withdraw the money, after which he sent it to an office located at Adabraka.

When Mr. Shafiq and his agents decided to verify the authenticity of the gold after it had been delivered, some of the gold was found to be fake.

They reportedly threatened to lodge a complaint with the police, but they were allegedly warned by Juanah that they would be incarcerated for engaging in an illegal business.

It said Mr. Shafiq and his agents quickly left the country for Dubai and were advised to lodge a complaint with the National Security, which referred the matter to the EOCO.

Investigations conducted so far revealed that Juanah drafted the contract agreement for the transactions, acted as solicitor to both the buyer and the seller, while Victor Amoah acted as consultant to Mr. Shafiq and his agents.

Nana Kwaku Adjei, reportedly posed as the gold dealer.

Reports indicated that the bank managers of the Abeka and headquarters branch of Guaranty Trust Bank (GT Bank), Industrial Area Branch Manager of the SG-SSB Bank and the Chief Executive of the Precious Minerals Marketing Company (PMMC), had all been invited by the EOCO to assist in investigations.