General News Tue, 2 Sep 1997

Serious Fraud Office Deny Ghanaian Chronicle Story

Accra, Aug. 28, - The Serious Fraud Office (SFO) today said it has not issued any report on investigations into the Securities Discount Company (SDC) Investment Limited. In a statement signed in Accra by Mr Theophilus Codjoe, Deputy Executive Director, Investigations, the SFO said investigations into the SDC Investments and Capital Telecom are still going on. "The Office, therefore, disclaims that it has delivered any report, interim or final, either to the government or any agency of government or public at large." The statement is in reaction to publications this week in two private newspapers. It said during the early parts of investigations into SDC Investments and Capital Telecom, the former Acting Executive Director of the Office, Mr Dominic de Graft Aidoo, made some observations on some aspects of the facts which were discussed during the investigations. "These observations which are entirely his and not the findings and conclusions of the Office appear to be what are being published" by the newspapers. According to the statement, Mr de Graft Aidoo in making the observations did not intend them to be published by the tabloids as a "Report" since that would be contrary to duties and responsibilities owed to the office he then occupied. "Under the SFO Law 1993 (Act 466) it is not required to hand over its reports to the government and in practice does not hand its report over to the government". It said the only occasion the Office may make its findings available to any agency of government is when it has to seek the authority of the Attorney-General's Department to conduct criminal proceedings out of its investigations under Section eight of Act 466.


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