Home Ghana News Three senior executives of defunct Venture Capital to cough up GHS18M

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 reviewed the decion on Friday, July 10, 2020.

Daniel Duku, under the agreement, will pay an amount of fifteen Million Ghana cedis, Twenty-Six Thousand and Sixty-Three dollars (US$26,063.00) to the Venture Capital Trust Fund (VCTF) and a fine of five hundred thousand Ghana cedis (GHc 500,000.00) to the State. These he will pay in addition to the seized properties.

Irene Anti-Mensah will pay One Million, Five Hundred Thousand cedis, to the Venture Capital Trust Fund (VCTF) and a fine of One Hundred Thousand Ghana cedis (GHc 100,000.00) to the State.

While Frank Aboagye Mensah will pay One Million and One Hundred and Ninety-Five Thousand Ghana cedis (GHc 1,195,000.00) to Venture Capital Trust Fund (VCTF) and a fine of One Hundred Thousand Ghana cedis (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.

The post Three senior executives of defunct Venture Capital to cough up GHS18M appeared first on Citinewsroom – Comprehensive News in Ghana.

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