SFO Digs Into Sam Jonah's Skin

Accra - Sam Jonah, Chief Executive of the Ashanti Goldfields Corporation (AGC), is still being pursued by the Serious Fraud Office. The SFO first began an investigation into Sam Jonah's connection to Sterlin Financial Services and the role of the company in the divestiture of the Ghana Oil Company (GOIL).

The investigations ordered by President Jerry John Rawlings have apparently not been completed and a report is not expected before the end of August.

Well-informed sources say that the President has also referred the Anyidaho report on the AGC to the SFO for further investigations.

As a follow up, the SFO has asked for the management agreement between Lomin and the AGC and a copy of an agreement which covers Sam Jonah's relations with Lomin.

The SFO is also reported to be investigating allegations of over- invoicing and under-invoicing against the AGC.

In this connection the SFO is looking into purchases made by the AGC to find out whether prices were inflated.

Although SFO officials remain tight-lipped over the current state of investigations, it is presumed that the investigations are being hurried to enable the President take action on them before he leaves office.

AGC sources say that Dr. Sam Jonah has done nothing wrong and that the investigations into his business life should be seen as a witch- hunt.

While some say that Dr. Jonah is being punished for his role in the installation of the current Asantehene, when the government preferred Nana Akwasi Agyemang, others say that the involvement of his company, Sterlin Financial Services in the divestiture of state enterprises may have started the trouble.

The President has on a few occasions referred to Dr. Sam Jonah as a common criminal although no criminal proceedings have been instituted against him.

One of the issues being investigated by the SFO is how Dr. Jonah bought his current residence from the AGC.

Whether Dr Sam Jonah can face up to the scrutiny of the SFO is a matter which will be settled very soon. The reputation of both the President and Sam Jonah is at stake.

Whatever the SFO says about this investigation can have wide-ranging implications