More details are emerging about the investigation by the Economic and Organised Crime Office (EOCO) against the Member of Parliament (MP) for Manhyia South, Nana Agyei Baffour Awuah.

The latest details implicate another New Patriotic Party (NPP) MP and the former Managing Director (MD) of SIC Life Savings and Loans, Amma Frimpomaa Dwumah, in the crimes Baffour Awuah is accused of, including causing financial loss to the state and money laundering.

According to the details, which were shared in a report by TV3’s court reporter, Joseph Ackah Blay, EOCO believes that the two MPs and the former SIC Life MD colluded to commit the crimes in a case to recover some money the state insurance company lent to a micro-insurance firm, Equity Micro-finance.

The report indicated that EOCO believes that the collusion between Baffour Awuah, who was the lawyer of SIC Life, the unnamed NPP lawyer believed to be the lawyer of Eco Swiss, one of the companies involved in the case, and the former SIC Life MD, led to the state getting only GH¢5 million out of the supposed over GH¢14 million.

EOCO is reported to have said that Frimpomaa Dwumah signed off on the agreement that led to SIC Life losing the millions of Ghana cedis without the approval of the board.

The details also indicated that the ex-SIC boss signed the agreement after her tenure had ended and also received about GH¢1 million from Baffour Awuah’s legal firm.

GH¢600K from Equity and More: MP details EOCO evidence against Baffour Awuah

“The other person who signed that agreement was the managing director of SIC Life. Investigators made the point that their information suggests that, at the time she signed it, she did not have the authorisation from the board to have entered into that agreement. They also say that her term of office had also come to an end.

“Then there is also an additional claim that a certain amount of money may have been transferred into her (the ex-MD of SIC Life’s) private accounts from the law firm of the Member of Parliament’s account after the entire transaction had taken place and the amount we understand is in the region of a million cedis,” he said.

He added, “The investigators believe there was a certain collusion between the Member of Parliament for Manhyia South, Baffour Awuah, this other NPP MP and the former MD for SIC Life Savings and Loans.”

Watch a video of the report below:



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