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In a dramatic escalation of a multimillion-dollar gold dispute, Papa Yaw Owusu-Ankomah, Director of JG Resources Limited (JGR), has publicly accused a Council of State member of orchestrating a coordinated smear campaign against him. The allegations center on a contested $2.6 million gold supply agreement that has now spiraled into accusations of political interference and media manipulation.
Owusu-Ankomah, son of a former Attorney General, released a detailed statement defending his reputation amid what he describes as “false, sensational, and unethical publications” designed to damage his standing and that of his family. “Let me state unequivocally: I am not a fraudster. I have never engaged in fraudulent conduct,” he declared in the statement.
The JGR director specifically named Gabriel Tanko Kwamigah Atokple, the Council of State member for the Volta Region, as the alleged orchestrator of the campaign. According to Owusu-Ankomah, Atokple and his company, reportedly backed by “individuals within the corridors of power,” are attempting to evade accountability for their business dealings with JGR.
The dispute centers on an unfulfilled gold supply agreement valued at approximately $2.6 million involving Sesi Edem Company Limited. Owusu-Ankomah claims JGR acted as a broker for purchases from licensed exporters who subsequently failed to deliver as agreed, with discrepancies in both quantities and delivery timelines.
Ghana’s gold sector, which accounts for over 90% of the country’s mineral exports, has faced increasing scrutiny over transparency and accountability in recent years. This high-profile dispute highlights the complex relationships between business interests and political figures in the country’s natural resources sector.
In his statement, Owusu-Ankomah outlined what he described as a pattern of pressure tactics, including “filing a baseless criminal petition,” “fabricating allegations of forgery,” and “misusing legal processes to create sensational headlines.” He further alleged that an ex parte interim order froze JGR’s accounts while simultaneously directing payment of funds into court—a contradictory directive that he described as “impossible to comply with.”
Perhaps most seriously, Owusu-Ankomah claimed that “a senior government official attempted to interfere in the matter and openly assured Atokple that he would ‘ensure a favourable outcome’ in exchange for a commission,” suggesting potential corruption at high levels.
The JGR director also addressed specific allegations regarding the company’s financing arrangements. He categorically denied claims that JGR had relied on a tripartite agreement to secure funding, stating that investment from a foreign partner stemmed from “a direct and personal relationship” with a JGR director rather than from company representations.
Further complicating matters, Owusu-Ankomah alleged that the Economic and Organised Crime Office (EOCO) had initiated inquiries into the dispute but halted their investigation “without explanation,” raising questions about potential interference in the investigative process.
The gold trade is central to Ghana’s economy as the country ranks among Africa’s top producers. Disputes of this magnitude and profile risk damaging investor confidence in the sector, which has been working to improve its governance and compliance frameworks.
Throughout his statement, Owusu-Ankomah maintained that JGR has “acted transparently at every stage” and emphatically declared: “There is no fraud. There never was.” He concluded with a defiant note: “I will not yield to such cowardly conduct.”
The dispute remains ongoing, with legal proceedings apparently still in motion. Neither Atokple nor representatives from Sesi Edem Company Limited have issued public responses to Owusu-Ankomah’s allegations as of reporting time.
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6 Comments
Allegations of political pressure and media manipulation are always concerning, especially in a commercial dispute involving large sums of money. I hope the authorities can conduct a thorough and impartial investigation to determine the facts and hold any wrongdoers accountable, regardless of their political connections or influence.
Agreed, sunlight is often the best disinfectant when it comes to these kinds of murky disputes. Transparency and due process will be key to resolving this matter fairly.
Hmm, this seems to be a complex commercial dispute with accusations of wrongdoing on both sides. While I’m wary of jumping to conclusions, the claims of political interference and smear campaigns are quite serious. I’ll be curious to see how this plays out and whether an impartial investigation can uncover the full truth of the matter.
This is a concerning situation involving allegations of political pressure and media manipulation. It’s important to get all the facts and hear both sides of the dispute before rushing to judgment. I hope the truth comes out and justice is served, regardless of who is right or wrong.
Wow, this is quite a dramatic escalation of a commercial dispute. The allegations of political pressure and media manipulation are very serious. I’ll be interested to see how this plays out and whether any credible evidence emerges to support the claims on either side.
As someone with an interest in the mining and commodities sector, I’ll be following this story closely. The claims of political interference and media manipulation, if true, are very troubling. I hope an independent investigation can get to the bottom of what’s really going on here.