BoG forwards suspected financial crime cases to EOCO for investigations

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The Bank of Ghana has sent various associated cases with monetary wrongdoing to the Economic and Organized Crime Office (EOCO) for examinations.

They incorporate dubious solicitation to the Central Bank for installment of huge amounts of internal settlements that has been kept by the controller and solicitations by collectors for examinations concerning ancient Savings and Loans Companies and Microfinance organizations.

In the main case, the Central Bank said pursuing an arising direction that it has seen throughout the most recent couple of years, it has since October 2020 submitted five separate solicitations to EOCO for examinations concerning cases of (people, organizations, and law offices following up for customers) who have tirelessly made cases on the BoG such that specific enormous amounts of cash purportedly transmitted to them by unfamiliar counterparties through the financial framework have been kept by BoG.

“These petitioners regularly joined documentation asserted to message from the SWIFT global assets move framework, as confirmation of the receipt and maintenance of their assets by BoG”. It clarified.

“Following BoG’s starter examinations which have shown that these cases are phony, BoG has alluded such makes a difference to EOCO for additional examination. EOCO has gained critical headway in these examinations and has started arraignment in a portion of these cases, while examinations in different cases proceed”, it added.

On the subsequent case, the Bank of Ghana said, in its public notification in 2019 declaring the renouncement licenses of specific ancient Savings and Loans Companies, Finance Houses, and Microfinance Institutions, it refered to various possibly criminal activities with respect to these organizations and their investors, chiefs or the executives, by and large.

“Following further examinations concerning the disappointment of these establishments by the Receivers named by BoG, these cases were alluded to EOCO for counsel. EOCO has directed autonomous examinations concerning some of these cases as recorded underneath and has made proposals to the Attorney General’s Department for thought and conceivable indictment”, it called attention to.

The firms include Ideal Finance, GN Savings and Loans, CDH Savings and Loans, Midland Savings and Loans, Legacy Capital Savings and Loans, FirsTrust Savings and Loans, Express Savings and Loans, IFS Savings and Loans, uniCredit Savings and Loans and Dream Finance Company. Others are Goldman Capital Microfinance, Dwadifo Adanfo Microfinance, CIG Microfinance, Adom Sika Microfinance, Nationwide Microfinance, Cypress Microfinance, Jorbies Microfinance, DPF Microfinance and FTS Capital Microfinance.

The Central Bank additionally referenced that “EOCO keeps on working with the Attorney General’s Department towards quick indictments of people suspected to have been complicit in the disappointments of these establishments.”

“Meanwhile, EOCO has frozen and additionally seized a few resources of such people to assist with repayments of the inquirers of the ancient establishments”.

It finished up, saying, the Central Bank will keep on developing its cooperation with EOCO and other law authorization Agencies in the country, to assist with advancing monetary respectability and trust and trust in our financial framework.