The Director General of the Social Security and National Insurance Trust (SSNIT), Kwasi Osei has briefed President Kufuor on the Obotan Developers Projects (christened ''Eden in the heart of the city''). SSNIT sunk $2.224 million into the project, intended to develop the Independence Avenue into a residential area, but up to date, it has not been commenced.
Steps are being taken by the Trust to retrieve the money.
In his briefing, the SSNIT Boss informed the President, in a letter dated April 7, 2003 that after its findings, the Serious Fraud Office had recommended that certain individuals and companies should prosecuted under S. 23(1) of the Criminal Code, Act 29(60) for conspiracy and Fraud.
In addition, the former Director General of SSNIT, Charles Asare should be prosecuted for causing financial loss to the state.
The individuals and companies include Enterprise Insurance Company, SSB Investments Limited; Obotan Developers Limited, Ken Ofori Atta and Ekow Awoonor, both Directors of SSB Investments Limited; George Otoo, Director, Enterprise Insurance Limited and Daniel Seddoh, Director, Obotan Developers Limited.
Kwasi Osei told the President that ''in discussions with the Acting Executive Director of the SFO soon after the submission of the report on October 7, 2002, the latter indicated that a case document has been prepared and forwarded to the Attorney General’s office for further action''.
Meanwhile, Obotan Developers Limited is allegedly seeking an out of court settlement of the impasse between it and SSNIT.
