{"id":750506,"date":"2019-11-23T12:51:33","date_gmt":"2019-11-23T12:51:33","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/11\/23\/eoco-grabs-adom-sika-microfinance-directors\/"},"modified":"2019-11-23T12:51:33","modified_gmt":"2019-11-23T12:51:33","slug":"eoco-grabs-adom-sika-microfinance-directors","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/11\/23\/eoco-grabs-adom-sika-microfinance-directors\/","title":{"rendered":"EOCO Grabs Adom Sika Microfinance Directors"},"content":{"rendered":"

<\/p>\n

\n

Georgette Kusi-Boateng and Sam George Acquah<\/strong><\/p>\n

Two Directors of Adom Sika Micro Finance Limited have been arrested by the Economic and Organized Crime Office (EOCO) for their inability to render account on how depositors\u2019 funds in excess of GH\u00a2150 million were utilized.<\/p>\n

Sam George Acquah and Georgette Kusi-Boateng were grabbed last
\nWednesday and subsequently cautioned and released on bail to be reporting later.<\/p>\n

The Executive Director of EOCO, COP (rtd) Frank Adu-Poku, narrated
\nto DAILY
\nGUIDE<\/em><\/strong> that the suspects were unable to render accounts or explain how
\ndepositors\u2019 funds were used.<\/p>\n

He said a review of records of the company revealed that a single debtor
\nidentified as Kwaku Ansu had an outstanding loan balance of about GH\u00a2240 million
\nwhich accounted for over 95% of the loans and advances of the company.<\/p>\n

\u201cWhat is even more suspicious was that Ansu\u2019s exposure was as a
\nresult of normal and penalty interest built up from 2012 based on a facility of
\nGH\u00a22.7 million extended by the company to Ansu,\u201d the EOCO boss said.<\/p>\n

He stated that the exercise EOCO had embarked on against offending Micro
\nFinance Companies and Savings and Loans companies marked a turning point in the
\napproach of law enforcements to the acts of \u2018impunity\u2019 by directors of these
\ninstitutions.<\/p>\n

\u201cThe action of the directors constitutes financial crimes against
\ninnocent citizens and for that matter, the state, which EOCO is mandated to
\ninvestigate,\u201d he added.<\/p>\n

COP Adu-Poku hinted that the properties and assets acquired by these
\ndirectors through the diversion of depositors\u2019 funds would be treated as
\nproceeds of crime and EOCO would take all necessary steps to restrain and
\npreserve such assets and take appropriate legal action to ensure that the
\nproceeds were used to compensate their victims.<\/p>\n

DAILY GUIDE<\/em><\/strong> investigation
\nhas shown that most of the depositors of Adom Sika Microfinance Limited were military
\npersonnel who went on peacekeeping missions outside the country.<\/p>\n

\u201cThese soldiers used their hard-earned monies to invest in the microfinance company with the aim of acquiring more profits only to be disappointed,\u201d a source said. <\/p>\n

(lindatenyah@gmail.com) <\/strong><\/p>\n

By Linda Tenyah-Ayettey<\/strong> <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Georgette Kusi-Boateng and Sam George Acquah Two Directors of Adom Sika Micro Finance Limited have been arrested by the Economic and Organized Crime Office (EOCO) for their inability to render account on how depositors\u2019 funds in excess of GH\u00a2150 million were utilized. Sam George Acquah and Georgette Kusi-Boateng were grabbed last Wednesday and subsequently cautioned […]<\/p>\n","protected":false},"author":1,"featured_media":750507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-750506","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"yoast_head":"\nEOCO Grabs Adom Sika Microfinance Directors - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/11\/23\/eoco-grabs-adom-sika-microfinance-directors\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"EOCO Grabs Adom Sika Microfinance Directors - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Georgette Kusi-Boateng and Sam George Acquah Two Directors of Adom Sika Micro Finance Limited have been arrested by the Economic and Organized Crime Office (EOCO) for their inability to render account on how depositors\u2019 funds in excess of GH\u00a2150 million were utilized. 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