MTN: Investcom officials deny wrongdoing

Accra, Sept. 20, GNA - Mobile Telecommunications Network (MTN), current owner and operator of Scancom Ltd, on Thursday said Investcom and its directors were addressing allegations levelled against them by the Serious Fraud Office (SFO).

In a statement signed in Accra by Ms. Mawuena Dumor, Corporate Services Executive, MTN said the affected parties "categorically deny any wrongdoing on their part".

"Investcom and its directors insist that during the relevant period cited by the SFO, at which time Investcom was under different ownership, they conducted the business of Investcom and Scancom in compliance with the laws of Ghana," the statement said.

"MTN, as the new owner, has had no reason to believe that Investcom/Scancom Ltd infringed the laws of Ghana," it added. MTN said it had confidence in the legal process in Ghana and would cooperate with the authorities to ensure that justice prevailed in the matter.

It said it would, however, regard it as "unfortunate for these matters to be subjected to trial by the media." The Company said it was committed to conducting business in Ghana transparently and in compliance with Ghana's legal and regulatory requirements.

It said its aim was to establish world class telecommunications services in Ghana as it was successfully doing in 20 other countries in Africa and the Middle East.

SFO has said its investigations uncovered one of the most sophisticated networks in international money laundering, tax evasion and balance sheet fraud.

It said it had called for action to repatriate about eight trilling cedis from the company, which was taken over by MTN this year. 20 Sept. 07