An extensive investigation is underway regarding a staggering $17 million gold transaction that has raised serious allegations of fraud involving multiple companies in Ghana. The case begins with Tayvest FZCO, a Turkish firm that claims it has been defrauded in a gold purchase agreement, leading to a petition filed with the Police Criminal Investigations Department (CID).
The Turkish company asserts that it paid this considerable sum to JG Resources Limited, a local entity, but has not received the full amount of gold as stipulated in their agreement. The petition indicates that a significant $6.8 million remains unpaid, raising questions about the legitimacy of the business operations involved.
Key figures in this unfolding drama include Papa Yaw Owusu-Ankomah, the son of a former Attorney-General, who, along with his associates, allegedly utilized JG Resources to facilitate this transaction. Reports suggest that JG Resources lacked the necessary licenses to operate in the gold sector and had no concessions to extract gold, relying instead on other Ghanaian companies for supply.
Among these companies, Sesi Edem Limited is noted to have partially met its obligations, delivering only a fraction of the gold required under the contract. Meanwhile, RMB Mining Company Limited and Goldline Mining Limited have reportedly failed to fulfill their contracts, prompting Tayvest FZCO to hold all involved Ghanaian directors accountable.
Sesi Edem Limited has denied any wrongdoing and has taken legal steps to defend its reputation. The company, led by Gabriel Tanko Kwamigah-Atokple, has filed a lawsuit against Tayvest FZCO, JG Resources, the Economic and Organized Crime Office (EOCO), and Access Bank Ghana Limited. It claims that JG Resources misused its name and signature in a fraudulent agreement with Tayvest FZCO.
Upcoming court proceedings are set for March 5, 2026, where JG Resources and its directors, including Owusu-Ankomah, will face serious allegations of forgery related to the gold transaction. This legal confrontation is unfolding amidst a backdrop of increasing scrutiny into the operations and transactions of these companies, particularly given the suspicious timeline surrounding JG Resources’ incorporation and the swift receipt of the $17 million.
The petition from Tayvest FZCO has prompted calls for a thorough investigation by the CID to uncover any unlawful activities and to ensure the recovery of the funds involved. The Turkish firm outlined in its petition that it had made multiple payments amounting to over $14 million, with a substantial portion allegedly linked to gold that was never delivered.
As this situation develops, Sesi Edem Limited is also seeking to clear its name and regain access to its frozen bank accounts, which it argues are crucial for fulfilling its remaining obligations under the original gold purchase agreement.
