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Business News Fri, 5 Jun 2020

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Venture capital case: Fmr CEO agrees to refund Gh¢15m

The Land Division of the Accra High Court has directed the Director of Public Prosecution (DPP) to file the terms of agreement fully executed in the case in which the former National Democratic Congress (NDC) MP for Keta Richard Larsey Agbemefia, former CEO of Venture Captial Daniel Duku and four others have been charged for stealing GH¢42.8 million.

In court on Friday, in the case entitled ‘The Republic versus Daniel Duku and 5 others,’ prosecution led by DPP Mrs Yvonne Atakora Obuobisa informed the court that some of the accused persons have negotiated with the state to pay restitution and compensation to the state under section 35 of the court’s Act.

The DDP told the court presided over by Justice Anthony Oppong that three of the six accused persons Daniel DUKU (A1), Irene Anti Mensah (A3) and Frank Aboagye (A5) have agreed to pay restitution and compensation to the state.

The rest of Richard Larssy Agbenyefia, Kofi Sarpong and Charity Opoku were yet to activate such a clause.

But when the DPP was about telling the court the terms of the agreement, the court said, it was only shown a copy of the agreement but a copy has not been filed.

The court has, however, directed the AG to file the executed form of the agreement with the accused persons on one hand and the AG on the other hand.

The court said, once that was done, the court will be able to examine it to see if it was satisfied.

The court said, filing the executed agreement, it will prevent any future confusion from any of the parties.

Starr News Court Correspondent Muntalla Inusah reports that the former CEO according to the DPP has agreed to pay over GHc15m.

The case has been adjourned to Monday, June 8, 2020.

Source: Starr FM

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