The full charges and brief facts as filed by the State in the case involving Menhyia South MP, Nana Agyei Baffour Awuah:
- COUNT ONE
Statement of Offence:
Conspiracy to commit a crime, to wit – intentional dissipation of public funds,contrary to Section 1(1) of the Public Property Protection Decree, 1977 (SMCD 140)
and Section 23(1) of the Criminal Offences Act, 1960 (Act 29).
Particulars of Offence:
NANA AGYEI BAFFOUR AWUAH (Honourable, MP), 44 years old, lawyer; that you, in
the year 2024, and within the jurisdiction of this Court, did, while acting as professional lawyer for SIC LIFE SAVINGS & LOANS COMPANY LIMITED, agree to act together with the Managing Director of the said SIC LIFE SAVINGS & LOANS COMPANY LIMITED, to intentionally dissipate the sum of Nine Million, Eight Hundred and Fifty Thousand Ghana cedis only (GHC 9,850,000.00) belonging to the said SIC LIFE
SAVINGS & LOANS COMPANY LIMITED.
- COUNT TWO
Statement of Offence:
Intentionally causing financial loss to a public body, contrary to Section 179A(2) of
the Criminal Offences Act, 1960 (Act 29).
Particulars of Offence:
NANA AGYEI BAFFOUR AWAH (Honourable, M.P.), 44 years old, lawyer; that you, in
the year 2024, and within the jurisdiction of this Court, did, in the course of a business
transaction with SIC LIFE SAVINGS & LOANS COMPANY LIMITED, intentionally cause the said SIC LIFE SAVINGS & LOANS COMPANY LIMITED to lose the sum of Nine Million, Eight Hundred and Fifty Thousand Ghana cedis only (GHC 9,850,000.00).
- COUNT THREE
Statement of Offence:
Money laundering, contrary to Section 1(2)(a)(if) of the Anti-Money Laundering Act, 2020 (Act 1044).
Particulars of Offence:
NANA AGYEI BAFFOUR AWUAH (Honourable, MP), 44 years old, lawyer; that you, in
he year 2024, and within the jurisdiction of this Court, did, for the purposes of ssisting to evade the legal consequences of a crime, transfer the sum of One Millior Ghana cedis only (GHC 1,000,000.00) to the person who was at the material time the Managing Director of SIC LIFE SAVINGS & LOANS COMPANY LIMITED, knowing at the time of such transfer that the money was acquired through crime.
- Brief facts*
1 The Accused Person, a native of Achiase in the Ashanti Region, is a 44-year-old legal practitioner and sitting Member of Parliament for the Manhyia South Constituency.
2 He is, at all material times, the Senior Partner of the law firm – SARKODIE BAFFOUR AWUAH & PARTNERS (hereinafter referred to as the “Law
Firm”).
3 SIC LIFE SAVINGS & LOANS COMPANY LIMITED (hereinafter referred to as “SIC LIFE”) is a savings and loans company owned entirely by the State.
4 In May 2020, SIC LIFE engaged the Accused Person and the Law Firm to sue EQUITY SAVINGS AND LOANS LIMITED (hereinafter referred to as “EQUITY”) for the recovery of a debt of Six Million, Three Hundred and One Thousand and Eighteen Ghana cedis and Seventy-six pesewas (GH¢ 6,301,018.76).
5 The Accused Person took personal conduct of the suit.
6 The terms of engagement were as follows: SIC LIFE was to pay the Accused Person and the Law Firm fifteen percent (15%) of the principal sum claimed in professional fees, and one percent (1%) of it for expenses.
7 15% of the principal sum claimed is Nine Hundred and Forty-five Thousand, One Hundred and Fifty-two Ghana cedis and Eighty-one pesewas (GH¢ 945,152.81).
8 In that same month, SIC LIFE paid to the Accused Person and the Law Firm Two Hundred and Eighty-four Thousand Ghana cedis
only (GH¢ 284,000.00) as part-payment.
9 On July 18, 2022, the High Court (Commercial Division), Accra, entered a summary judgment for SIC LIFE against EQUITY in Suit No. CM/RPC/0795/2020 in the sum of Ten Million, Eight Hundred and Sixty-two Thousand, Two Hundred and Seventy-seven Ghana cedis and Ninety-four pesewas (GH¢ 10,862,277.94).
10 In execution of the judgment, SIC LIFE, through the Law Firm, caused a 31.93-acre parcel of land situate at Adamorobe, near KAS Valley Estate, Oyibi in the Greater Accra Region (hereinafter referred to as the “Property”) and belonging to EQUITY to be attached on December 20, 2023.
11 The Court appointed an auctioneer to sell the Property by a public auction at a reserve price of Twenty-five Million Ghana cedis only (GH¢ 25,000,000.00).
12 No encumbrance was recorded in respect of the Property when execution commenced.
13 By a revised judgment dated May 28, 2024, the judgment-debt rose to Fourteen Million, Eight Hundred and Fifty Thousand, Seven Hundred and Seventy-six Ghana cedis and Fourteen pesewas (GH¢ 14,850,776.14), inclusive of interest and costs.
14 Put simply, SIC LIFE held a judgment debt of nearly Fifteen Million Ghana cedis, secured by attached land with a reserve price of GH¢25,000,000.00. SIC LIFE stood to recover every pesewa of its judgment.
15 EQUITY, however, did not wait for the auction. On March 14, 2024, while the Property was under attachment, EQUITY purported to sell it to ECO SWISS INVESTMENT LIMITED (hereinafter referred to as “ECO SWISS”) for Twenty-one
Million, Seven Hundred and Sixty Thousand Ghana cedis only (GH¢21,760,000.00).
16 Investigation has established that ECO SWISS was not incorporated and was, therefore, not in existence until after it has purportedly
acquired the Property.
17 The Accused Person was instrumental in arranging this transaction. By July 2024, ECO SWISS had paid to EQUITY just Five Million Ghana cedis (GH¢ 5,000,000.00) of the purchase price.
18 In that month, ECO SWISS filed a notice of claim in the Court, challenging the attachment. The auction stalled.
19 The Accused Person, though aware of all the defects in ECO SWISS’ claim, looked the other way, and actively encouraged settlement.
20 Then came the settlement. On July 18, 2024, SIC LIFE, EQUITY and ECO SWISS executed Terms of Settlement (hereinafter referred to as the “Terms”).
21 Under the Terms, SIC LIFE agreed to accept as low as Five Million Ghana cedis only (GH¢5,000,000.00) from ECO SWISS in full and final settlement of the revised judgment-debt of GH¢ 14,850,776.14.
22 The Terms did not stop there. They also required ECO SWISS to pay the Accused Person and the Law Firm fifteen per cent (15%), not of the reduced consent-judgement sum of GH¢ 5,000,000.00, but of the original judgment-debt as legal fees.
23 Thus, entitling the Accused Person to the sum of Two Million, Two Hundred Thousand Ghana cedis (GH¢4,400,000.00) in legal tees. ECO SWISS was, also, to pay the sum of One Million
Ghana cedis only (GH¢ 1,000,000.00) as auctioneer’s fees.
24 Thus, of the Eight Million, Two Hundred Thousand Ghana cedis (GH¢ 8,200,000.00) which ECO SWISS undertook to pay under the Terms, SIC LIFE, the judgment-creditor; was
to receive barely three-fifths.
25 The Managing Director of SIC LIFE, in conspiracy with the Accused Person, signed the Terms.
26 Investigations, however, found no record of prior approval of the Terms by SIC LIFE’s board of directors or shareholders, no subsequent ratification, and no approval by SIC LIFE’s oversight ministry, the Ministry of
Finance.
27 Further investigations established that immediately upon receiving his purported professional legal fees, the Accused Person, on November 11, 2024, wrote a cheque of One Million Ghana Cedis (GH¢ 1,000,000.00) – almost 50% of the purported legal fee – to the person who, at the material time, was the
Managing Director of SIC LIFE and who signed the consent judgement terms which reduced SIC LIFE’s judgement-credit sum from GH¢14,850,776.14 to GH¢ 5,000,000.00.
28 The Accused Person has, however, failed to tell investigators the purpose for which he transferred the said GH¢1,000,000.00 to the person who, at the material time, was the Managing Director of SIC LIFE.
Investigation is still ongoing.
