A Director of JG Resources Limited, Papa Yaw Owusu-Ankomah, has rejected allegations of fraud and wrongdoing linked to disputed gold supply transactions, describing them as false claims driven by commercial disputes and political interference.
In a detailed statement, Mr. Owusu-Ankomah, a barrister and non-executive director of JG Resources, said petitions filed with Ghana’s Criminal Investigations Department (CID) alleging fraud directly contradicted bank records, which showed no funds were ever paid to JGR as claimed.
“Our foreign partner has also disavowed that petition,” Owusu-Ankomah said, adding that the value of outstanding gold supplies owed to the foreign partner “far exceeds the funds advanced”.
“There is no fraud. There never was,” he said.
Owusu-Ankomah said JGR acted transparently throughout the transactions and referred disputes to formal investigative channels where inconsistencies emerged, rather than resorting to what he called “unwarranted media smear campaigns”.
Dispute With Supplier
At the centre of the dispute is Sesi Edem Company Limited, a licensed gold supplier linked to Gabriel Tanko Kwamigah Atokple, a member of Ghana’s Council of State for the Volta Region.
Owusu-Ankomah said the quantities of gold supplied by Sesi Edem did not match those received, and that delivery deadlines were repeatedly missed despite personal assurances.
He said JGR released funds to the company after extensive deliberations involving senior political figures, including the Volta Regional Chairman of the ruling party, who had urged acceptance of revised delivery timelines.
According to the statement, the outstanding supply from Sesi Edem is nearly $2.6 million.
After JGR rejected a proposal by Sesi Edem to refund the amount over 12 months with deductions, the matter was referred to the Economic and Organised Crime Office (EOCO), Owusu-Ankomah said.
He alleged that the supplier later refused to provide investigators with authentic documentation and instead submitted invoices that were found to be forged, with inflated values exceeding prevailing world-market prices.
He said EOCO’s inquiries into the matter were later halted without explanation.
Allegations Of Interference
Owusu-Ankomah further alleged that a petition lodged in November 2025 with the Council of State over Atokple’s conduct received no response, and that a senior government official later attempted to interfere in the case, promising a “favourable outcome” in exchange for a commission.
“This conduct is both unethical and deeply troubling,” he said.
He also accused selected media outlets of publishing false reports without seeking comment from JGR or its directors, and of refusing to publish rejoinders.
Financing And Legal Action
Owusu-Ankomah said funding from the foreign partner was not raised by JGR, but stemmed from a personal relationship between another JGR director and the partner’s beneficial owner.
He said attempts to link him personally to criminal activity were “entirely unfounded”.
He said Sesi Edem later relied on what he described as a forged tripartite agreement and obtained an ex parte court order freezing JGR’s bank account, before initiating contempt proceedings against JGR’s directors.
“The facts have simply been sensationalized to fuel public perception that I am facing imprisonment,” Owusu-Ankomah said.
He said any further false claims would be challenged through legal avenues, reiterating his commitment to transparency and accountability.
Authorities have not publicly commented on the allegations.
