Attorney General goes after defaulters in Venture Capital case

Attorney-General, Godfred Dame

Some three persons have caused financial losses to the state

Settlement defaulters were to finish payment by end of September 2021

Defaulters in Venture Capital case to appear in court again

Attorney-General has activated legal processes to retrieve money from some 3 persons who entered into a settlement agreement with the state.

The 3 are Irene Anti-Mensah; her husband, Frank Aboagye Mensah, a former executive assistant at the Venture Capital Trust Fund (VCTF), and a former Member of Parliament for Keta and former member of the Board of Trustees of the VCTF, Richard Lassey Agbenyefia

According to Graphic.com.gh, the 3 persons were earlier convicted on their guilty pleas but came into an agreement to pay various sums of money as restitution for causing financial loss to the state.

The three together with the former Chief Executive Officer of the VCTF, Daniel Duku, were standing trial at an Accra High Court, which was presided over by Justice Anthony Oppong, on various charges including causing financial loss to the state, abetment of crime, stealing, defrauding by false pretences and issuing of false cheques.

The three convicts with the former CEO entered into negotiations with the A-G under Section 35 of the Courts Act, 1993, (Act 459), a provision that allows accused persons to offer compensation and restitution to the state for the loss, harm or damage caused the state.

Sanctions of convicts

In court yesterday, a Principal State Attorney, Ms Frances Mollen Ansah, requested for the court to apply sanctions under Section 35(7) of the Courts Act, 1993 (Act 459) against the three for defaulting in paying their debts, as agreed by the court.

Under Section 35 of the Courts Act, the convicts are expected to fulfil the conditions set by the court for the payment of the restitution, otherwise, it shall pass custodial sentences on them.

Apply

The trial judge, however, declined to hear the oral submissions and rather asked the State Attorney to prepare an application and serve them to appear in court.

Justice Oppong noted that the convicts needed to be allowed to appear in court to explain why they had defaulted in the payment of their debts, as directed by the court.

Anti-Mensah was to pay GH¢1.5 million to the VCTF and a fine of GH¢100,000 to the state; Aboagye Mensah was to pay GH¢1.19 million to the VCTF and a fine of GH¢100,000 to the state, while Agbenyefia was also to pay of GH¢2.41 million to the VCTF, per the agreement reached and accepted by the court.

They were required to pay the said amounts by the end of September 2021.

However, Anti-Mensah has settled GH¢1.43 million out of the GH¢1.5 million, leaving a balance of GH¢70,000; Aboagye Mensah has paid GH¢430,000 out of the GH¢1.19 million, with a balance of GH¢765,000, while Agbenyefia has paid GH¢200,000 out of the GH¢2.41 million, leaving a balance of GH¢2.12 million.

Mr Duku was expected to pay GH¢15 million to the VCTF and a fine of GH¢500,000 to the state, for which he has settled GH¢1 million.

According to Graphic.com.gh, the state was in the process of selling some of Mr Duku’s assets to clear the debts per court orders.

Adjournment of case

The court also adjourned the trial of two other persons involved in the case to January 14, 2022.

That was after their lawyer had asked the current CEO of the VCTF, Mr Yaw Owusu-Brempong, who appeared as the first witness for the prosecution, few questions under cross-examination.

The two, Kofi Sarpong, an investment officer of the VCTF, and Charity Opoku, also known as Charity Ameyaw, an accountant at the VCTF, have pleaded not guilty to the offences levelled against them.

Sarpong is facing 102 charges of abetment of crime, to wit causing financial loss to the state, abetment of crime, to wit defrauding by false pretence, and conspiracy to commit crime, to wit stealing.

Ameyaw, on the other hand, is facing two counts of causing financial loss to public property to a tune of GH¢12.6 million and abetment of crime, to wit causing financial loss to the state.

She has been accused of facilitating Duku to cause financial loss of GH¢1.94 million by signing cheques to enable the granting of loans to unqualified applicants.