Charges Filed Against Papa Kwesi Nduom In $63m Money Laundering Case in the U.S

Birim Group LLC, an equity fund and securities investment company based in the United States, has filed charges against the founder of the Progressive People’s Party (PPP), Dr Papa Kwesi Nduom.

Groupe Nduom, the mother company for over 60 businesses owned by Dr Nduom has been accused of laundering a total of $63,000,000.

READ ALSO: Mr Drew Exposed As A Gigolo After Allegedly Defrauding U.S Woman $2000

“The Nduom family defendants, by and through their ownership, control and use of defendants GN Bank, Gold Coast Fund Management and over 60 undercapitalised interrelated companies, collected several million dollars of depositor’s saving, investment contributions and insurance premiums, and in violation of U.S. and Ghana laws illegally laundered approximately $63,000,000 of depositors’ funds through its Virginia-based sham ‘procurement and consulting service’ company, International Business Solutions,” reports online say.

The report further stated that the purported “criminal scheme” involved “international money wire system – of inflated, over-invoiced and above-market rate fees disguised as payment for management service”.

READ ALSO: Lt. Col Agyeman Plus 3 Officers Sacked from National Security over Caleb Kudah’s Assault

The plaintiff, Birim Group LLC further alleges that Groupe Nduom engaged in these illegalities for the “sole personal financial benefit of the Nduom family” and used his businesses as a conduit to “facilitate the unlawful acts”.

Dr Nduom, his wife Yvonne Nduom, their children, Nana Kweku Nduom, Edjah Nduom and Nana Aba Nduom in their official capacities in the business are all named as defendants in the suit.

Birim Group LLC, led by a lawyer of Ghanaian origin called Kwasi A. Asiedu, are asking for “treble compensatory damages, as well as, consequential, exemplary and punitive damages in an amount to be determined by trial.

READ ALSO: Stonebwoy Exposes Shatta Wale for Borrowing His Rolls Royce – Say the Real Owner is Hiding Somewhere

They also want the court to order “disgorgement of all profits, benefits and other compensation obtained by defendants including all ill-gotten gains from their illegal and criminal activities.

Lawyers of the Nduom’s have describedthe claims by Birim Group LLX as meritless.

“The claims alleged by Birim Group LLC are meritless. We have filed for dismissal of this baseless complaint and will make our arguments to the Court.”

SOURCE: Ghanacelebrities.com