Papa Yaw Owusu-Ankomah, a Director of JG Resources Limited (JGR), has strongly rejected allegations that he is using political influence or the media to sway a $2.6 million gold supply dispute involving his company.
In a detailed statement, Mr Owusu-Ankomah, son of former Attorney General and former Ghanaian High Commissioner to the UK and Ireland, Papa Owusu-Ankomah, described recent reports about him as “a series of false, sensational, and unethical publications calculated to impugn my reputation and that of my family.”
He asserted that the publications are part of a calculated attempt to pressure him into unfavourable commercial concessions. He described the reports as “deliberate, coordinated, and designed to coerce me into accepting commercial terms that undermine the lawful interests of JGR, where I serve as a non-executive director bound by fiduciary duty.”
Rejecting any suggestion of wrongdoing, he stated: “Let me state unequivocally: I am not a fraudster. I have never engaged in fraudulent conduct. Any attempt to associate me with wrongdoing is false, without merit, and unsubstantiated.”
He claimed the motive behind the accusations is “to evade accountability for their conduct in their commercial dealings with JGR.” Among the alleged coordinated actions, he cited filing a “baseless criminal petition,” fabricating allegations of forgery, and misusing legal processes to create sensational headlines.
He also referenced an ex parte interim order that froze JGR’s account and directed that funds be paid into court, which he described as “incapable of being complied with,” arguing that it was impossible to transact on a frozen account. Additionally, he alleged that contempt proceedings were initiated against JGR directors to create the impression that he was “going to jail.”
Mr Owusu-Ankomah further claimed that “a senior government official attempted to interfere in the matter and openly assured Atokple that he would ‘ensure a favourable outcome’ in exchange for a commission.”
The dispute centres on an undelivered gold consignment valued at nearly $2.6 million, involving Sesi Edem Company Limited. Mr Owusu-Ankomah said JGR acted as a broker, facilitating purchases from licensed exporters who allegedly failed to meet agreed delivery obligations, with inconsistencies in quantities and missed timelines. He also alleged that the company provided invoices “which were proven to be forged” and that investigations by the Economic and Organised Crime Office (EOCO) “were halted without explanation.”
Addressing claims that JGR relied on a tripartite agreement to secure financing, he dismissed the assertion, stating the funding came from “a direct and personal relationship” with a JGR director rather than any company representations.
Reaffirming his position, Mr Owusu-Ankomah said: “There is no fraud. There never was. JGR has acted transparently at every stage.” He concluded firmly: “I will not yield to such cowardly conduct.”
Read the full statement below:
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