August 7, 2020
Clickongh

Three senior executives of defunct Venture Capital to cough up GHS18M

The High Court has convicted three Senior Executives of defunct Venture Capital to over GHS18 million in restitution to the State.

This is based on an agreement which the three, Daniel Duku (1st Accused Person), Irene Anti-Mensah (3rd Accused Person) and Frank Aboagye (5th Accused), out of the six persons standing trial in the case of the State against Daniel Duku and five others, entered into with the State to refund GHS18.5 million to the State including 11 properties belonging to Mr. Duku.

The agreement, which is pursuant to Section 35 of the Courts Act, 1993, (Act 459), had earlier been rejected by the Court Presided over by Court of Appeal Judge, Anthony Oppong, sitting as an additional High Court Judge, in June this year, but it was reviewed on Friday, July 10, 2020.

Daniel Duku, under the agreement, will pay an amount of GHS15 million, US$26,063 to the Venture Capital Trust Fund (VCTF) and a fine of GHS 500,000 to the State.

These he will pay in addition to the seized properties.

Irene Anti-Mensah will pay GHS1.5 million to the Venture Capital Trust Fund (VCTF) and a fine of GHS100,000 to the State.

Frank Aboagye Mensah will pay GHS 1,195,000.00 to Venture Capital Trust Fund (VCTF) and a fine of GHc 100,000.00 to the State.

The properties include five vehicles; (including a Porsche Cayenne and Porsche Panamera), six apartments of three bedrooms each at Georgetown Heights and the eight buildings at the Agyekum Presidential Villa at Adjiringano.

The payments are to made within three months from Friday, July 10, 2020.

Source: Business