Birim LLC which is a US-based equity fund and securities investment company has sued Groupe Nduom which belongs to Dr Paa Kwesi Nduom for money laundering and wire fraud.
The international company has accused 60 businesses owned by Dr Nduom of laundering a total of $63,000,000.
The writ from Birim LLC reads;
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
Birim LLC further accused Groupe Nduom of “criminal schemes’ involving “international money wire system – of inflated, over-invoiced and above-market rate fees disguised as payment for ‘management service’”.
Dr Paa Kwesi Nduom, his wife Yvonne Nduom, their children, Nana Kweku Nduom, Edjah Nduom and Nana Aba Nduom were also accused and named in the writ of summons.
Birim LLC also cited the recent cleanup in Ghana’s financial sector where the plaintiff claims “a substantial portion of its [GN Bank] loans were illegally made to Nduom-related entities without the benefit of appropriate risk assessments, managements or determinants”.
Source: Gossips24.com
