The National Crime Office in the UK has cleared the Asantehene, Otumfuo Osei Tutu of wrongdoing when he handed about £350,000 cash to a banker, Mark Frank Arthur to deposit into his account with UK-based Ghana International Bank.
According to Banking Consultant, Nana Otuo Acheampong, “Investigation conducted into the source of the money indicated the money did not come from a dodgy deal.”
Nana Acheampong, who has been following the case after the King’s name was mentioned in the case, visited the GhIB in the UK and secured documentation regarding the case.
He told the host of Joy FM's Super Morning Show, Kojo Yankson that the bank filed a Suspicious Activity Report (SAR) after it received an alert on the transaction entered by Mr. Mark Arthur because “the amount that was put in was above” allowable threshold of £250,000.
The transaction took place in August 2016.
“When that [SAR] was filed there was nothing the National Crime Office could find because the source [of the money] has been clearly identified. So this wasn’t a money laundering case as if there was dirty money…”
The Banking Consultant stated: “…the fact that the bell has rung does not mean the money is ‘dirty money.”
Nana Otuo Acheampong’s revelations affirm an earlier account given by Joy News sources in Manhyia Palace, the seat of the Asante Kingdom when the news first broke.
The source had described as inaccurate, reports suggesting the Asantehene was allegedly involved in money laundering.
Nana Otuo Acheampong explained further that during the tribunal hearing, the GhIB applied for anonymity of the account holder and opted for use of an abbreviation [OT] to represent him but Mr. Arthur opposed this application on the grounds that he conducted the transaction on behalf of the account holder and that it was important to disclose details of the account holder which the judge granted on the grounds of open justice.
Ruling deferred
The Employment Tribunal hearing the case brought before it by a former employee of the Ghana International Bank in the UK challenging his dismissal has deferred ruling to four weeks’ time.
It is the third time the ruling has been put off to a later date, after two earlier dates –Friday, October 13, and Monday, October 16- communicated by the tribunal.
Myjoyonline.com has learnt, the tribunal judge has decided to give a written judgement instead of a verbal ruling. The written judgment will be delivered in four weeks.
Nana Otuo Acheampong disclosed that Mr. Arthur, who claimed to have secured permission from the Managing Director of the Bank, Joe Mensah before depositing the money into the accounts of the Asantehene, has already lost two attempts to have his dismissal reversed.
Mark Arthur until the sack, had worked with the Ghana International Bank since 1989, rising through the ranks to the position of an Executive Director.
Source: Jerry Tsatro Mordy
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Don't know whether there was money laundering or not but who carries around that amount of cash? What happened to direct electronic transfer from one bank to the other? If I were him, I will be careful because more eyes will be on him now whenever he travels.
Massa; whether the Ashantehene aka Kweku Dua has being vindicated or not is neither here not there ; to me this man is TROUBLE AND A COMPLETE DISGRACE !!!!! ; why is it that you never hear anything bad about so many kings and chiefs in the world rather than this Ashantehene all the time ; the last time the disgraceful Ashantehene got into trouble was with his association with the Jon Mahama and the NDc party ; then there was the missing Ashante jewels abroad which acoording to private sources was a managed staged ***barred word*** by the Ashanthene to full Ashanteman that the much valued ornaments which has been in the custody of many kings never got missing but then suddenly disappears under this Kweku Dua aka Ashantehene ; then we have other disgracful cases against the KIng ; the question is who are the people who advice this Ashatehene because it seems there are too many mistakes with this gentleman besides anybody who goes to Kumasi or other place in Ashateland will se the object poverty ;even the Kumasi hospital lacks basic equipments ; the garden city of KUmasi full of rubbish and black bags containing sheet then we have a so called Ashanthene who rather prefers to invest his people money in the UK and leaves his own land that he is the overlord ; THIS MAN IS GOT BLACK BRAINS !!!!!!AND FIT TO LEAD ASHANTMAN !!!!!; CORRUPTION AND STILLING ARE THE BANE OF THIS SO CALLED KING !!!!!
My concern is not about the King Solomon's alleged criminality,but his intentions to invest his money abroad. Nana, in his wisdom, could've indirectly loaned this money to the people of Asanteman through the Savings and Loans Companies and Commercial banks incorporated in the region. Until we learn to invest or spend the money at where we made it we will be doing ourselves and our community of no good. I challenge the people of Asanteman to come out and vehemently condemn the king's action. It's a big shame
It's obvious material facts to this revelation has not been forthcoming and I've no doubts there's a deliberate attempt to mislead and suppress information. First and foremost, the erred by depositing such a colossal amount in his personal account abroad. The king's action demonstrates a vote of no confidence in Ghanaians and the managers of the economy and it's a precedence for another form of slavery.These are monies foreign banks pool and give out to its people as flexible credit to help ease temporary financial burden. Nana Akufo Addo and the good people of Ghana would be grateful to the king if he had invested the money in the government treasury bills. I hope the media will not be silent on this, but to aggressively condemn the action of the King.
Why not invest in Kumasi where citizens pay taxes to him. Accumulating money in foreign accounts and buying properties in places like South Africa whils Ashanti natives lack basic infrastructures does not speak well of a King who has been likened to King Solomon. Remember, you are growing and will die soon. Where would all these investments end up? Ashanti region where citizens were lured to pay 1100 Ghana Cedis for every land property owned to their King or to the foreign places where he invested those cash?
Thank God our King is vindicated