28.5 C
Accra
Saturday, December 4, 2021

US court clears Ghana’s PPP flagbearer Paa Kwesi Nduom of money laundering, wire fraud allegations (Details) » GhBase•com™

Ghanaian politician and business magnate, Paa Kwesi Nduom has been cleared of any wrongdoing after he and 18 others were sued in a US court for money laundering.

– Advertisement –

Recall that in May 2021 an equity fund and securities investment company based in the United States, Birim Group LLC, has brought charges against the founder and former flagbearer of the Progressive People’s Party (PPP), Dr Papa Kwesi Nduom.

In a writ which was reshared by MyJoyOnline, Groupe Nduom, the umbrella company for 60 other businesses owned by Dr Nduom is being accused of laundering a total of $63,000,000.

“The Nduom family defendants, by and through their ownership, control and use of defendants GN Bank, Gold Coast Fund Management and over 60 undercapitalised interrelated companies, collected several million dollars of depositor’s saving, investment contributions and insurance premiums, and in violation of U.S. and Ghana laws illegally laundered approximately $63,000,000 of depositors’ funds through its Virginia-based sham ‘procurement and consulting service’ company, International Business Solutions,” it stated.

Describing Dr Nduom’s operations as one that would “put Bernie Maddoff to shame”, the writ further stated that the purported “criminal scheme” involved “international money wire system – of inflated, over-invoiced and above-market rate fees disguised as payment for ‘management service’”.

Dr Nduom, his wife Yvonne Nduom, their children, Nana Kweku Nduom, Edjah Nduom and Nana Aba Nduom in their official capacities in the business are all named as defendants in the suit.

Fortunately, he’s a ‘free man’ after he updated his fans on social media that he’s cleared of any wrongdoing.’

He posted;

““For I know the plans I have for you says the Lord, plans to prosper you and not to harm you, plans to give you hope and a future.” Jeremiah 29: 11.
I am extremely happy to report that the Birim Group Lawsuit filed against me and others in the USA alleging money laundering etc., has been DISMISSED!!!
Thank you Lord!”

– Advertisement –

Source link

Latest news
Related news