A report from the Ghana Police Service’s Criminal Investigations Department (CID) found no wrongdoing in the alleged $14.315 million gold theft by Dr. Gabriel Tanko Kwamigah-Atokple, the Volta Regional representative of the Council of State and owner of Sesi-Edem Company Limited.
According to the report, despite ongoing investigations into claims of defrauding by false pretences, in violation of Section 131 of the Criminal Offences Act, 1960 (Act 29), investigators were unable to find any incriminating evidence against Sesi-Edem Company Limited regarding a contract related to the transaction.
The report states that on December 18, 2025, a petition filed on behalf of TAVEST FZCO, a Turkish investment company, was written by Lithur and Brew Company, a corporate investment law and litigation firm. The petition claimed that JG Resources Limited had been paid for the supply of fifty kilograms of gold bars but had not fulfilled the terms of the agreement.
According to investigators, on May 25, 2025, TAVEST FZCO, acting through its director Kwaku Appiah Yeboah, signed the contract with JG Resources Limited.
The complainant alleged that as complete payment for the shipment, $14.315 million was sent from the United Arab Emirates into an Access Bank account that JG Resources Limited had supplied.
But only $7.515 million worth of gold was allegedly supplied, leaving $6.8 million in either undelivered gold or underpaid refunds.
According to the CID report, two directors of JG Resources Limited, Kwaku Appiah Yeboah and attorney Papa Yaw Owusu Ankomah, were detained, warned, and released on bond while additional investigations were conducted.
Additionally, it says that after investigators learned that gold had been obtained from several vendors, Frank Kofi Adjetey Wood, the CEO of Frank City Mineral and Oil Company Limited, was subsequently detained, warned, and released on bond.
The directors of JG Resources allegedly told authorities during questioning that they bought gold from a number of companies, including Goldline Mining Limited, Frank City Mineral and Oil Company Limited, Demensah Company Limited, and Sesi-Edem Company Limited.
According to the article, detectives invited Dr. Gabriel Tanko Kwamigah-Atokple, who gave a statement and contractual paperwork.
The CID findings state that on June 5, 2025, JG Resources Limited and Sesi-Edem Company Limited signed a contract for the provision of the 50 kg of gold, which is anticipated to last until June 5, 2026.
According to the evidence that is now available, Sesi-Edem Company Limited supplied JG Resources Limited with 32.8 kg of gold under that contract; deliveries were allegedly made at the company’s location, according to investigators.
“In view of the evidence available, nothing incriminating has been established against Sesi-Edem Company Limited so far as the above stated contract is concerned,” the CID report stated.
The CID report’s conclusions seem to be in line with a previous decision made by the Adenta High Court on 25 March 2026, which also concluded that the matters brought up were outside the purview of the Economic and Organised Crime Office’s (EOCO) mandate under Section 3 of the EOCO Act, 2010 (Act 804).
The Court observed that Sesi-Edem Company Limited had gained approval under a government agreement and a gold trading permit from the Precious Minerals Marketing Company in August 2024, which was valid until August 2025.
The Court noted that a public notice released on May 22, 2025 allowed current license holders to continue trading until June 21, 2025, despite the Goldbod Act revoking prior licenses.
As a result, the Court determined that the company’s June 5, 2025, contract with JG Resources Limited was valid and within the allotted time frame.
Source: newsthemegh.com